Countrywide Insurance Group and Atlantic Mutual have formed a strategic alliance to expand the availability of the Atlantic Master Plan insurance product nationwide to individuals with substantial asset protection needs.
The deal will draw on Countrywide Insurance Group’s “A” rating* and its parent company’s national presence along with B+-rated Atlantic Mutual’s select independent agents.
The deal will allow Atlantic Mutual’s independent agents to leverage the higher rating of the P&C division of Countrywide Insurance Group to drive growth.
“We believe we have found a true strategic partner who supports our current business strategy and an excellent arrangement that will strengthen our position as an independent, premier writer of affluent personal lines,” said Dan Olmsted, president of Atlantic Mutual. “In particular, this alliance will allow our independent agents to offer the Atlantic Master Plan with the backing of both Atlantic Mutual and A-rated property and casualty insurance companies of the Countrywide Insurance Group.”
Countrywide gains access to a new distribution channel, which Tom Scrivener, personal lines president, said is in line with his company’s diversification strategy. “Atlantic Mutual’s close relationships with independent agents and the company’s experience in meeting the needs of affluent individuals allow us to expand into a new area with confidence and credibility,” said Scrivener.
In addition, work has begun to extend this partnership to western states and Texas, where Countrywide Insurance Group operates but Atlantic Mutual does not.
The Atlantic Master Plan provides coverage for affluent individuals for homes, automobiles, valuables, watercraft, and personal liability protection needs.
Countrywide Financial Corporation (NYSE: CFC) is a member of the S&P 500, Forbes 2000 and Fortune 500. The Countrywide Insurance Group offers insurance underwriting, agency, and commercial brokerage services through its various companies.
Was this article valuable?
Here are more articles you may enjoy.