Plum launches private client division
3 October 2016: Plum Underwriting (Plum), the specialist home insurance managing general agent has today launched Plum Private Clients, a dedicated division offering an enhanced portfolio of home insurance covers for brokers. The division launches with two improved worldwide all risks products offering expanded coverage and increased limits, 'Premier' for high net worth (HNW) building and contents risks and 'Amethyst' for mid net worth risks (MNW). These are offered alongside the existing portfolio of Plum specialist household covers exclusively through the company’s own online portal in the UK, with the Republic of Ireland to follow early next year.
The launch of the private client division marks the full integration of Synergy Insurance Services, a specialist HNW MGA which Plum acquired in February 2016. The new division is led by Emma Bennett, Head of Private Clients, who joined following the Synergy acquisition, and Niall Madders, Head of Private Clients Underwriting.
David Whitaker, Plum’s Managing Director, said: “The launch of Plum Private Clients marks an important milestone in our development. Plum now offers market-leading HNW and MNW products alongside our existing specialist household product range. The integration of the Synergy HNW business has paved the way for Plum to lead the specialist household insurance market.”
Emma Bennett added: “Our combined expertise enables us to provide an expanded and complementary range of highly effective products supported by a responsive and experienced team that understands the needs of the private client sector.”
For further information please contact :
Alex Wise, Full Circle Communications
M 07710 665 615
T 020 7265 7887
Notes to editors
Plum Underwriting Limited is a London-based underwriting agency providing specialist solutions for the UK and Republic of Ireland home insurance market through brokers.
In addition to partnering brokers on an ‘open market’ basis, where it quotes, underwrites and issues documentation, Plum also issues delegated authorities to insurance providers allowing them to white label their products and control the client experience.
Plum’s eTrade division is focused on expanding the company’s electronic placement strategy for brokers through the e-enablement of non-standard and specialist home products via software houses, brokers own systems and other third party platforms. Products are offered as full cycle EDI solutions via major software houses with brokers benefiting from high quote rates and low operational cost whilst still having the ability to access Plum’s underwriting support for more complex risks.
Plum Underwriting Limited is authorised and regulated by the Financial Conduct Authority.
Global Risk Partners Limited (GRP) is an investment vehicle aimed at brokers and managing general agents (MGAs) trading in the UK retail and global, specialty insurance markets. It was established in 2013 by Peter Cullum, Chairman and David Margrett, Chief Executive and is backed by private equity firm Penta Capital LLP.
Global Risk Partners acquires businesses, teams and portfolios that have niche, non-commoditised, specialty propositions and strong profitability.