Gibraltar insurer to provide £12m capacity
Gibraltar-based insurer, Zenith Insurance has signed heads of agreement with Europa Underwriting part of the Europa Group. Under the terms of the agreement, Zenith will provide a capacity of up to £12 million for Europa to re launch their Elite Car product.
Peter Longstaff, chief underwriting officer at Zenith, said: “There is a tremendous synergy between our respective companies. It makes perfect sense for us to work with Europa as their distribution base offers good opportunities for Zenith to explore a segment of the market that falls outside our normal footprint. We very much see this as the first stage of a key strategic relationship with Europa Group with whom we will be developing further opportunities over the months ahead.”
Scott Salter, chief executive of Europa, said: “We are delighted to be able to work with the team at Zenith. They have an enormous amount of expertise within the motor market, and with their support we believe we can develop a strong multi dimensional relationship."
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