Zurich UK has announced a new long-term agreement with KGM Underwriting, a specialist and niche motor insurer and part of the A-Plan / Howden Group.
The partnership secures Zurich’s solus capacity, over a five-year term, for KGM’s motor portfolio.
The five-year arrangement is worth over £700 million GWP and will commence in January 2022.
A-Plan has been part of the Howden Group since it was acquired last year in a deal that created one of the largest personal and commercial lines insurance brokers in the UK.
Commenting on the new MGA capacity deal, Dave Martin, Zurich’s Head of Retail said: “We’re delighted to announce our new partnership with KGM. This deal aligns to our wider Retail growth strategy by combining the financial strength, expertise and brand of Zurich with the technical knowledge and distribution reach of a specialist underwriter and strategic broker partner.”
“Our partnership with KGM leverages their long-established reputation and expertise in specialist sectors which provides strategic diversification to our Personal Lines portfolio,” Martin added.
Zurich UK CEO Tim Bailey also commented: “This is a great result and strengthens our growing relationship with the A-Plan Group.”
Matt Puttick, CEO of KGM Underwriting, further stated: “This partnership is great news for our brokers, customers and team, we’re really looking forward to working with such a well-respected insurance brand and team who share our ambitions. Zurich has backed our expertise with a five-year partnership which provides KGM security of capacity that enables us to continue to invest in the long-term capability of the business to deliver our sustainable growth plans.”
And finally, Carl Shuker, Group Chief Executive of A-Plan Group, said: “We’re delighted to strengthen our strategic relationship with Zurich, which goes back to the earliest days of A-Plan, and would like to thank their team for all their work in helping put together this new and exciting capacity arrangement.”