Leading global insurer, RSA, has signed two new five year household deals and a commercial combined deal with OIM Underwriting, a wholly owned subsidiary of Arthur J. Gallagher (UK). The deals are expected to generate approximately £75m gross written premium per annum.
This complements one of RSA’s core strategies to build long-term relationships with key partners, with a focus on the home and commercial insurance markets, where RSA has significant expertise.
Commenting on the deal, Jon Hancock, RSA's Managing Director, UK Commercial, said: "This is a substantial deal that cements our long-term partnership with OIM Underwriting, a company that we're proud to do business with. Our experience, focus on service and flexibility, combined with OIM’s increasing size and scale is, we believe, a winning combination.
"We have a great understanding of each other's businesses and a mutual appetite to do what we say we'll do, when we say we'll do it, every time for the benefit of the end-customer. This deal marks an exciting next-step in our relationship and one that we are confident will be of benefit to customers."
Sian Fisher, Managing Director of OIM Underwriting, added: "We are delighted to have the support of an insurer with the substance of RSA which is testament to the brand OIM has built by focusing on the quality of our underwriting and the quality of our people.
“This is a vote of confidence in OIM's abilities and will allow us to deliver a longevity and consistency of service to our producer partners, which will strengthen their relationship with their client policyholders - who will in turn benefit from the wide capabilities of this strong underwriting partnership.”
Lucy Hensher, RSA , +44 (0)20 7337 5385 / 07500 783 550 firstname.lastname@example.org
With a 300 year heritage, RSA is one of the world’s leading multinational quoted insurance groups. RSA has major operations in the UK, Scandinavia, Canada, Ireland, Asia and the Middle East, Latin America and Central and Eastern Europe and has the capability to write business in around 140 countries. Focusing on general insurance, RSA has around 23,000 employees and, in 2011, its net written premiums were £8.1 billion.
Within the UK, RSA is the largest commercial lines insurer, covering the insurance and risk management needs of a significant number of FTSE 100 companies. It has a full multi-distribution capability, writing business through brokers and corporate partners, direct and online. RSA is also one of the UK’s top four personal motor and household insurers.
RSA was the first UK carbon neutral insurer. The company has cut its carbon footprint by half since 2000 and has offset the remainder by purchasing voluntary carbon reductions.