Allianz Australia Insurance Group has taken an equity position in Global Transport & Automotive Insurance Solutions (GT), formerly Global Motor Underwriting, to “provide a market leading facility to service Australia’s transport, fleet and specialist equipment customers and, most importantly, the intermediaries who service this segment,” said the bulletin.
GT ‘s Managing Director Nick Zissis explained the name change. He indicated: “In recognition of the expansion of the business relationship and the growth plans for the agency, Global Motor Underwriting has been renamed Global Transport & Automotive Insurance Solutions or GT for short.” The Company will begin official operations, tomorrow, June 1.
“The combined premium revenue of the Allianz and GT Heavy Motor businesses will make GT a significant market player in the transport industry insurance,” said the announcement. “GT aims to become a comprehensive one-stop service for intermediaries wanting insurance products like Motor, Liability, Marine and Property. GT will also provide industry leading claims and risk management services,” noted Nicholas Scofield, Allianz General Manager Corporate Affairs. GT is able to offer intermediaries the best of both Allianz and the former Global’s Heavy Motor and Commercial Fleet underwriting expertise.”
Allianz bulletin explained: “GT will be a stand-alone company but will benefit from operating under the international Allianz umbrella. GT will be able to import best practice ideas from Allianz companies, around the world, specializing in insurance for the transport industry. Additionally, most of Allianz’ Heavy Motor staff will relocate to GT to maintain continuity of service to intermediaries who have policies with Allianz. GT is underwritten by Allianz Australia Insurance Limited and underpinned by the financial strength of Allianz Australia and its parent the global Allianz Group.”
“During the next few weeks, Allianz and GT representatives will be contacting brokers to explain first-hand the benefits that GT can offer them and their customers,” Scofield concluded.
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