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December 8, 2020

Zurich brokers five-year personal lines capacity deal with Plum Underwriting

By Verdict Staff

Zurich UK has entered into a five-year agreement with specialist MGA Plum Underwriting to offer capacity for its UK non-standard home insurance portfolio.

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Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
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The £150m deal replaces Lloyd’s of London as Plum’s capacity provider.

Plum is part of the Global Risk Partners (GRP) group of underwriting businesses. It features portfolio of targeted products in the non-standard property segment, focusing on risks such as non-standard construction, unoccupied properties and subsidence.

Leveraging Plum’s know-how in the specialist property sector, the tie-up consists of a mix of underwritten and digitally distributed products.

Plum managing director David Whitaker said that the alliance affirms its commitment to offering “sustainable, high quality insurance products” to brokers and their clients.

Whitaker added: “The five-year deal recognises the importance of long-term stability and how combining this with a technology led strategy drives measurable benefits to Plum and our brokers.”

Commenting on the new MGA capacity deal, Zurich head of Personal Lines Phil Ost said: “We are delighted to launch our new partnership agreement with Plum Underwriting.

“Their long-established reputation and expertise in the specialist property market is clear and we look forward to working with the Plum team on profitably growing this portfolio, as well as further deepening our relationship with the wider GRP Group.”

The deal is part of Zurich’s Retail growth strategy to bring together its insurer and broker expertise and utilise insights from distinct customer segments.

Last year, Zurich rolled out its new UK broker trading platform known as Zurich Online for SME and speciality business.

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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