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LV= Broker agrees 5 year deal with Towergate Underwriting
LV= Broker has joined Towergate Underwriting’s home syndicate alongside Allianz. The agreement started on 1 July 2015 and will run for an initial term of five years.
Towergate Underwriting, part of the Towergate Group is one of the UK’s leading providers of specialist insurance products and LV= Broker will provide capacity for their standard home risks. During the five years, the deal is expected to be worth over £110 million in GWP.
LV= Broker was selected due to its financial strength, proven capability within the home insurance market and a clear cultural alignment with both Towergate and Allianz in providing strong and secure insurance solutions for customers. LV= has worked with Towergate on personal lines private car, specialist and van since 2008 and this new deal serves to further strengthen the two companies’ relationship.
Michael Lawrence, Personal Lines Director at LV= Broker, said “We’re delighted to be recognised by Towergate for our expertise in home insurance and we’re proud to support them alongside Allianz. Home is an area in which we see significant growth opportunities and this is a further step towards achieving our ambitions.”
Clive Nathan, CEO of Towergate Underwriting added: “This long-term commitment to our relationship with LV= Broker is testament to a mutual determination in providing reassuring quality and quantity of home insurance products to brokers. In this competitive market, we will work with both LV= Broker and Allianz to lead in both customer service and risk advice. We are once again delighted to announce further collaboration with a key partner insurer.”
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