Zurich seals £105m deal with Ardonagh MGA replacing AXA

Zurich UK has signed a five year deal with  Ardonagh-owned specialist underwriter for agricultural and farm insurance, taking over from previous capacity provider AXA. The move is in line with the insurer's retail growth and diversification strategy.

The new long-term agreement with AIUA, which forms part of The Ardonagh Group, is worth £105 million of gross written premium over five years and is effective immediately.

Under the agreement, Zurich will provide sole underwriting capacity to the North Yorkshire-based insurer for its portfolio which includes farm combined and agriculture motor.

David Martin (pictured), Zurich’s head of retail, said: “This deal further strengthens our strategic relationship with Ardonagh and is consistent with our retail strategy. We are continuing to expand and diversify our retail business by building long-term capacity agreements with specialist, high-performing underwriters. AIUA have a long-established expertise in the rural insurance market, and we are delighted to be working with them.”

Derek Coles, chief executive officer of GEO Underwriting, said: “I am delighted to further develop and strengthen our strategic partnership with Zurich, building not only on our successful relationship in agriculture (with The Rural Insurance Group) but elsewhere across the Geo ‘house of brands’. Both Geo and Zurich are committed to the specialist agriculture insurance sector, seeing this as a real opportunity for growth, and I’m delighted they have chosen to back our technical knowledge and expertise.”

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