Allianz Commercial agrees SME tie up with R A Cowen
by Gill Montia
Allianz Commercial has announced a three-year tie up with R A Cowen & Partners, which names the insurer as principal provider for the broker’s SME book.
The partnership is expected to generate significant premium income for Allianz, which will underwrite risks on the Midlands-based firm’s small business product offering.
The deal follows similar agreements made this year with Towergate Northampton and the Purple Partnership; Allianz expects the Towergate Northampton deal, effective from February, to generate £1.8 million in gross written premiums in the first year.
Meanwhile, R A Cowen says the partnership will enable the broker to provide access to “the best possible small business products and service levels in the market”.
Allianz small business development manager, Graeme Durlacher, comments: “Despite strong competition … we were able to respond to the needs of the broker, producing a tailored three-year deal”.
R A Cowen & Partners was established in 1973 as a commercial insurance brokerage and serves clients across the Midlands and beyond.