NM Insurance names new underwriter
LEADING marine industry insurance providers, NM Insurance, has formed a new underwriting relationship with AIG Australia and New Zealand (AIG).
The new arrangement will see AIG as underwriter for leading products and services via the Nautilus Marine brand in the Australian market, and under the NM Insurance New Zealand brand. This includes insurance for recreational pleasure craft, charter craft, marine liability and business insurance programs for the recreational boating industry.
“We look forward to this partnership moving forward, the cross-border and cross-product opportunities that AIG are to support will assist our business moving forward,” said NM Insurance CEO, Lyndon Turner. “There are a number of product developments already underway and we look forward to working with our business partners when we are ready to release these initiatives.
“We have enjoyed a very professional and progressive relationship with Lloyds, and our partner syndicate for many years, however it was agreed and considered at board this was the right movement forward for our company.”
AIG is a leading international insurance organisation operating in more than 100 countries worldwide. It is a specialist yacht insurer in many regions around the world and in the superyacht market in this region.
“AIG is delighted to partner with NM Insurance as their capacity provider effective 1 October,” said Noel Condon, CEO of AIG Australia. “We’re looking forward to developing a successful working relationship and extending our full product capability to NM Insurance customers. Lyndon Turner and his team are industry professionals. Their innovative spirit and commitment to delivering exceptional customer service were major attractions for us.”
NM Insurance operates across Australia and New Zealand with brands including Nautilus Marine Insurance, Mi-Bike Motorcycle Insurance and Proteus Marine Insurance. New Zealand operates under the NM Insurance brand.