NM Insurance Secures Growth with Five-Year Zurich Partnership
NM Insurance Secures Growth with Five-Year Zurich Partnership
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In a strategic move set to bolster its market position, NM Insurance has announced a five-year agreement with capacity provider Zurich, positioning itself for further growth and increased broker confidence in its success.
Since its establishment two decades ago as Nautilus Marine Insurance Agency, NM Insurance has expanded its focus beyond the recreational boat market in Australia, branching into New Zealand and diversifying into the commercial marine, caravan, and motorcycle sectors.
This new long-term binder agreement solidifies the relationship that started in 2020. According to NM Insurance CEO, Lyndon Turner, the deal not only ensures business stability but also accelerates the company’s momentum in delivering niche, market-leading products supported by a globally recognised insurer.
Currently managing a $90 million portfolio and employing over 100 staff members, NM Insurance views the collaboration with Zurich as a testament to its disciplined underwriting and robust growth strategy. The partnership provides brokers with increased assurance, knowing that NM Insurance's products are backed by a global entity with a steadfast local presence in Australia and New Zealand.
The extended agreement is seen as a vote of confidence that is expected to facilitate further expansion for NM Insurance. This confidence is bolstered by Zurich’s endorsement, as the insurer’s local head of general insurance, Alex Morgan, emphasises NM's track record and underwriting expertise as key drivers for the partnership.
Looking ahead, this strategic alignment not only ensures service continuity, claims reliability, and consistent support for brokers but also strengthens NM Insurance’s role in niche risk strategies. The extended support from Zurich underscores the insurer’s commitment to maintaining strong, stable relationships with trusted partners, aiming to deliver solutions trusted by both brokers and clients alike.
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Dictionary
Insurance Deductible
noun
the amount that an insured is required to contribute toward an insurance claim as stipulated in an insurance policy. Otherwise known as the "policy excess".
