HDI World Insurance coverage Firm has signed a multi-year fronting partnership with P&C insurer Hallmark Monetary Providers, set to begin on 1 June 2024.
Underneath the alliance, HDI World Insurance coverage Firm will entrance Hallmark’s business enterprise, whereas HDI World Choose Insurance coverage Firm will deal with the aviation enterprise.
This collaboration goals to bolster Hallmark’s common aviation and small to medium-sized business P&C insurance coverage merchandise with extra capability and product growth help.
HDI World Insurance coverage Firm, the US unit of HDI World, stated the settlement is a part of its efforts to strengthen its presence within the US.
Dallas-Fort Value, Texas-based Hallmark operates on a nationwide scale, underwriting and servicing each business and private insurance coverage in choose markets.
The brand new partnership is not going to influence the group, methods and processes Hallmark’s company companions work with.
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HDI World US CEO Jim Clark stated: “The partnership matches completely into the corporate’s US technique. Aligning with Hallmark will enable us to additional facilitate the wants of our enterprise companions by making HDI a holistic one-stop store for his or her insurance coverage placements.”
Hallmark president and CEO Chris Kenney stated: “Our partnership with HDI, AM Finest rated A+ (Superior), is a pivotal step in our technique to develop and diversify each our common aviation enterprise and business enterprise. We’re thrilled to companion with HDI and sit up for a protracted and formidable partnership.”
Final month, HDI broadened its providers to extra successfully serve the mid-market phase, specializing in firms with turnovers starting from €20m ($21.25m) to €500m.
On the time, the insurer stated it’s diversifying past its conventional giant industrial consumer base to satisfy the wants of a wider array of industries via specialised underwriting and claims processes.
