Allianz and Evolution Underwriting will continue to work together for the next five years after extending their arrangements until at least 2016, Evolution said today. The deal covers property, casualty, excess of loss and motor lines.
Evolution, the independently owned commercial underwriting specialist, said the deal will continue to benefit both companies.
“We are delighted to continue our long and productive relationship with Allianz,” commented CEO Paul Upton.
“We value continuity of relationship with our insurers very highly and to be able to bring the security that Allianz offers to independent regional brokers enhances our proposition in the long term.
“I am pleased that Allianz will get the benefit of what we hope will be an improved trading environment over the next few years.”
Steve Coates, Head of Property and Casualty at Allianz added, “Evolution has proved it has the systems, controls and governance that we are looking for in our MGA partnerships and this is why we are delighted to renew our relationship with them.
“This decision reflects our shared underwriting philosophy, the attraction of the segment and our mutual desire to generate long term profitable growth.
“It also highlights the financial strength and stability of the Allianz brand despite the challenging market conditions.”