SYDNEY, Australia – Zurich Australian Insurance Limited (‘Zurich’) today announced a new binder agreement with underwriting agency, NM Insurance Pty Ltd (‘NM’) to provide capacity for its portfolio of Boating and Recreational products across Australia and New Zealand starting on 17 July 2020. 

For Zurich, this agreement is an important pillar in its go-to-market strategy and will focus on SME  and Personal Lines Customers using NM’s extensive network and market strength.

The NM portfolio includes Pleasure Craft, Marine Trades Liability, Boating Industry Commercial Insurance, and Motorcycle and Caravan Insurance, bringing scale to Zurich’s offering in the Australia and New Zealand markets.

Sean Walker, Chief Underwriting Officer, General Insurance of Zurich Australia & New Zealand said, “We are excited to be working with NM in an agreement that enhances our Marine offering and allows us to enter new lines and products. We each have a strong track record in Marine and a complementary set of core strengths that will ensure success.”

Matthew O’Sullivan, Head of Motor and Marine for Zurich Australia & New Zealand said, “The NM product suite is directly aligned with Zurich’s global marine strategy, and this agreement provides our customers access to new and unique solutions for their risks. As one of the leading marine insurers, both locally and globally, we are delighted to share insights and experience with NM, a well-established market leader in this segment of the market.”

NM Insurance Group Chief Executive Officer, Lyndon Turner, said: “Zurich’s global strength, stability and commitment to the Australia and New Zealand markets will enable our broad range of products  to continue to provide quality insurance solutions, while supporting the growth and strategic direction of the company now, and well into the future.”

ENDS