Rokstone inks $25 million partnership with Allianz to bolster NA marine presence
Rokstone inks $25 million partnership with Allianz to bolster NA marine presence | Insurance Business New Zealand
Reinsurance
Rokstone inks $25 million partnership with Allianz to bolster NA marine presence
Enhancement follows significant additions to the firm’s marine line-up
Reinsurance
By
Kenneth Araullo
Re/insurance MGA Rokstone has announced a major enhancement to its North American marine operations, secured through a collaboration with Allianz Commercial involving a substantial US$25 million facility provided by Allianz to support Rokstone’s endeavors.
The strategic alliance represents an expansion of Rokstone’s existing relationship with Allianz and is set to bolster Rokstone’s North American wholesale marine specialty business. Led by Mike Nukk, a prominent marine underwriter, the collaboration will ensure long-term support from one of the region’s most esteemed carriers, boasting AA-rated capacity.
The announcement also follows the recent addition of key industry professionals to the Rokstone team, including Mike Nukk from AIG, Alex Berisha from Liberty, and Derek Vandermyde from Starr Insurance.
The firm has set aggressive targets for its marine portfolio in North America, aiming to expand from a startup to a US$100 million operation within five years. The focus will be on the middle market North American business segment.
“With many considering this trio of marine specialists the premier team in North America, we are thrilled to share the news of this latest Allianz-backed facility. Our special relationship with Allianz is further solidified by this collaboration and we fully expect to dominate the middle market Marine space in a few years’ time,” Rokstone CEO James Potter said.
“We have been supporting Rokstone North America for several years now and respect their high-caliber talent and the way they do business. We are excited to expand our involvement with Rokstone to additional marine lines. Their advanced technology, wholesale focus and expert underwriting will provide distribution partners additional ways to access Allianz,” Allianz Commercial head of marine, North America Rich Soja said.
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