Travel insurer Cover-More has extended its underwriting arrangement with Munich Re subsidiary Great Lakes for a further five years.

“Given Great Lakes is part of one of the world’s largest and most trusted insurance groups, we see it as a highly desirable partner for our next phase of growth,” CEO Peter Edwards said.

Cover-More first entered a long-term underwriting arrangement with Great Lakes in 2009 for its Australian, New Zealand and UK operations.

The two companies have a 45.7% share of all travel insurance written in Australia, according to research company Ibisworld.