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Zurich UK announces plans to extend its long-term agreement with Plum Underwriting for a further five years, a deal which is set to reach £250 million GWP over the term. The partnership, which was established in 2020, will provide capacity for the UK non-standard home insurance portfolio. This includes risks such as non-standard construction, unoccupied properties, subsidence and for those underserved in the community.
The new five-year partnership with Plum, which forms part of Brown & Brown (Europe) Ltd’s underwriting businesses, is an important part of Zurich’s Retail growth strategy. It combines insurer and broker expertise and offers a service to customers from specialist segments. Since launch five years ago, Plum has also taken ownership for claims handling.
David Nichols, Zurich’s Head of Retail comments: “Partnerships are an important part of our retail strategy. It’s the longevity of these relationships that really pay dividends for our business. These long-term commitments with partners create a formula that enables both businesses to grow together.
“We’ve already seen the business written through Plum double in the last five years, this is a trend we expect to continue. This move fully supports our ambitions to continue to provide personal lines specialist cover alongside our strategy to grow Zurich Private clients – offering these customers a wider range of cover.”
Dan Berry, Chief Underwriting Officer, Brown & Brown (Europe), said: “The extension of our partnership is testament to the success we’ve seen over the last five years. We have a strong niche proposition, which is delivering tailored solutions for our brokers and customers. Both Plum and Zurich are fully focused on delivering the highest quality of customer service, it’s the alignment of these values that really make a partnership successful. This announcement reaffirms the longevity of an already flourishing partnership.”
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