UK’s Evolution Secures Allianz Capacity for Additional 5 Years

February 1, 2012

Commercial underwriting specialist Evolution Underwriting has announced the extension of its capacity arrangements with Allianz for a further five years. “The deal covers property, casualty, excess of loss and motor lines and ensures continued support for Evolution until at least 2016,” said the bulletin.

Evolution’s Chief Executive Paul Upton commented: “We are delighted to continue our long and productive relationship with Allianz. We value continuity of relationship with our insurers very highly and to be able to bring the security that Allianz offers to independent regional brokers enhances our proposition in the long term. I am pleased that Allianz will get the benefit of what we hope will be an improved trading environment over the next few years.”

Steve Coates, Head of Property and Casualty at Allianz noted that Evolution “has proved it has the systems, controls and governance that we are looking for in our MGA partnerships and this is why we are delighted to renew our relationship with them. This decision reflects our shared underwriting philosophy, the attraction of the segment and our mutual desire to generate long term profitable growth. It also highlights the financial strength and stability of the Allianz brand despite the challenging market conditions.”

Source: Evolution Underwriting

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