Pet and equine insurer Petplan has appointed Lloyd’s underwriter MS Amlin as underwriter for its business in Australia and New Zealand, ending an arrangement with Allianz that began in 2008.
All new Petplan business is now underwritten by MS Amlin Syndicate 2001 at Lloyd’s.
Some renewal business will transfer to MS Amlin over the next year, but some will remain with Allianz.
It is understood MS Amlin did not want to take on policies relating to older or sick animals, but Allianz is obliged to continue underwriting these due to lifetime guarantees within policies.
Petplan Australasia was established in Australia in 2004 by Victorian brokers Doug and Gwen Ford, and expanded into New Zealand in 2008.
Mr Ford told insuranceNEWS.com.au the new partnership may lead to further expansion.
“MS Amlin has written pet insurance for a number of years and its experience in equine and livestock was also key for us, together with its financial standing and reputation,” he said.
“We thank Allianz Australia for its past and ongoing support, but we see our partnership with MS Amlin as a stepping stone for Petplan’s growth, not only in Australia and New Zealand but also in other parts of the world.”
Source File: InsuranceNews
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