Zurich enters agreement to expand general and professional indemnity offering
SYDNEY, Australia – Zurich Australian Insurance Limited (“Zurich”) has entered into a new underwriting agency agreement with Pacific Indemnity Underwriting Solutions Pty Ltd (“Pacific Indemnity”) to provide 25% of the capacity for Pacific Indemnity’s professional indemnity policies on a co-insurance arrangement from 1 December 2019.
Zurich is already providing full capacity for Pacific Indemnity’s general and public liability products since April 2019.
Sean Walker, Chief Underwriting Officer, Zurich Australia & New Zealand, said: “Our support of Pacific Indemnity will give brokers and customers even greater choice, and it’s a further demonstration of how we are deploying our capability and financial strength to support financial lines products in the Australian market.”
Robin Cooper-Driver, Head of Financial Lines & Casualty, Zurich Australia & New Zealand, said: “The Australian general and professional liability markets are rapidly evolving. As one of the leading liability insurers globally we are delighted to bring our insights and experience to our partnership with Pacific Indemnity.”
Jun Acance, Managing Director of Pacific Indemnity said: “We are proud to be supported by Zurich. This diversification will allow Pacific Indemnity to offer an expanded product portfolio to meet the needs of our partner brokers and their clients.”
The deal is Zurich’s second, following the announcement of a deal with Fusion M&A earlier this year to back its Warranty & Indemnity product across the Asia-Pacific region.
ENDS
Zurich Insurance Group (Zurich) is a leading multi-line insurer serving people and businesses in more than 200 countries and territories. Founded 150 years ago, Zurich is transforming insurance. In addition to providing insurance protection, Zurich is increasingly offering prevention services such as those that promote wellbeing and enhance climate resilience.
Reflecting its purpose to ‘create a brighter future together’, Zurich aspires to be one of the most responsible and impactful businesses in the world. It is targeting net-zero emissions by 2050 and has the highest-possible ESG rating from MSCI. In 2020, Zurich launched the Zurich Forest project to support reforestation and biodiversity restoration in Brazil.
The Group has about 60,000 employees and is headquartered in Zurich, Switzerland. Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information is available at www.zurich.com.