Rokstone, the International Speciality (Re)Insurance MGA, part of Aventum Group, has today announced a binder agreement with Slovenian insurer Zavarovalnica Triglav, to provide the MGA with an additional €1 million line for Facultative Property worldwide. The deal was brokered by Howden RE, part of Howden Group.
This is the carrier’s first global wide property binder with any international MGA. Zavarovalnica Triglav is an operating holding company of the Triglav Group with assets of just under €4bn. Triglav Group is rated by rating agencies S&P Global and A.M. Best and holds very favourable ratings by both companies (A Excellent). The business will be written out of Rokstone’s office in Ireland.
James Potter, CEO of Rokstone, comments: “We are delighted to secure a binder with Triglav – they are financially strong and to be chosen by them as their first global MGA to partner with, is a clear indication of their confidence in our team, our disciplined underwriting expertise and leading actuarial capabilities. We’re pleased to have secured this valuable additional capacity for our clients worldwide. The deal also further strengthens our long-term relationship with Howden, one of our leading reinsurance broker partners.”
Rob Winsley, Divisional Director at Howden RE, comments: “We’ve enjoyed a long and fruitful relationship with the team at Rokstone. One of the world’s largest MGAs, they have established a superb reputation for their talent and actuarial management. We’re delighted to have secured this landmark deal for them with Triglav – both are partners that we hope to develop and grow our relationship with further.”
The binder with Triglav coincides with the Aventum Group’s launch of Rokstone Insurance Europe – bringing together its existing specialist lines Rokstone brands in Ireland, iSure and iFarm, under one European banner.
Rokstone is one of the world’s largest MGAs, with offices in the UK, Europe, USA, Asia, Africa, and the Middle East. It is a leading specialist MGA serving the needs of international (re)insurance brokers in specialty lines business. It currently underwrites USD750m GWP in several specialty lines including Marine, Terrorism & Political Violence, Direct & Facultative Property, Treaty Property, Construction & Engineering and Liability.