US News: Nationwide & Genrali Announce JV on Commercial Cover

Nationwide Mutual Insurance Company (Nationwide), one of the largest insurance and financial services companies in the United States, and Generali, one of the largest global insurance and asset management providers, through its P&C unit Generali Global Corporate & Commercial (GC&C), are embarking on an innovative joint venture.

Recently, the two companies announced the creation of N2G Worldwide Insurance Services, LLC (N2G) to support multinational solutions for international commercial clients. Today commercial P&C gross written premium in multinational programs is estimated at ~$33B in US and Europe markets.
.
N2G will exclusively promote, distribute and administer insurance solutions for multinational exposures on behalf of both organizations. Business to N2G will be sourced
through independent agents, brokers and wholesalers. N2G will leverage
Nationwide’s strong U.S. based brand recognition and distribution with Generali’s
footprint as a leading global insurer with a large international network and marketing
capabilities across the property and casualty spectrum.

Utilizing the combined resources of both Nationwide and Generali, N2G will be well positioned to address the needs of multinational organizations with U.S. operations as well as U.S. based clients with complex multinational insurance needs. Nationwide will assume U.S. risk exposures and Generali (directly or through its partners) will assume non-U.S. exposures.

“We are proud to join forces with a strong partner like Generali, combining our trusted
customer-focused protection with their existing multinational footprint,” said Mark
Berven, President & COO, Nationwide Property and Casualty. “This partnership
between two insurance powerhouses will elevate the solutions we can offer to
commercial members to help them protect their business across the globe with
extraordinary care.”

“This partnership is part of our strategic plan 2021 to be a Life-Time Partner to our
customers, offering them innovative and personalized solutions,” Marco Sesana,
Country Manager Italy & CEO of Generali Italia and Global Business Lines Generali
said. “Today we are proud to announce this joint venture that brings together
Nationwide’s brand recognition and distribution with Generali Global Corporate &
Commercial’s extensive global network and local knowledge in over 160 countries around the world. N2G will be fully equipped to offer a comprehensive and seamless
multinational program to its customers” he added.

Bill Skapof will lead N2G as Chief Executive Officer. Skapof joined Generali in 2015
as Head of GC&C US, Executive Vice President and Chief Underwriting Officer.

Skapof is a senior P&C underwriting sales executive with 30 plus years’ experience
developing highly successful product, distribution and sales strategies in support of
global commercial markets, having established successful multinational capabilities
for the most prominent insurance players in the segment.

Backed by Nationwide, rated A+ by both A.M. Best and Standard & Poor’s – and
Generali, rated A by A.M. Best and A- by Fitch, N2G will be an organization brokers
and agents can trust. N2G will be based in New Jersey and focus solely on serving
the needs of multinational commercial insurance clients, opening for business in
second quarter 2020.

About alastair walker (3103 Articles)
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: