The product was officially announced on 10th May 2017 at the annual BIBA Conference and Exhibition in Manchester
As part of a strategic review by Munich Re Syndicate Limited, the insurance broker sourced book of Marine Trade business was, effective 1st January 2017, transferred into NMU from its sister company Groves John & Westrup (GJW).
GJW will continue to focus on its more traditional, core business of direct yacht and pleasure craft insurance risks.
David Perfect, NMU CEO and former CEO of GJW commented:
“Marine Trade adds to our ever-expanding product portfolio. It will be business as usual for clients of the existing book of business, with NMU providing the usual high levels of service expected by our customers. New brokers to NMU will of course benefit from the ability to access our full range of products, whilst our existing distribution network can add Marine Trade to their list of NMU offerings.”
Marine Trade is a highly-specialised industry, but our policy meets the diverse and complex needs of boat builders & repairers, hire fleet operators, water sport centres, boatyards, marina operators, chandlers, sailmakers, mooring providers, marine engineers, marine electricians, yacht brokers and similar trades.
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