Ensurance expands UK product line
Ensurance has entered three partnerships to expand its specialist construction and engineering offerings in the UK – a key growth market for the Australian-listed insurance group.
Its wholly owned Ensurance UK subsidiary has also appointed Timothy Cramphorn as a non-executive director. He is the former CEO of Munich Re-owned HSB Engineering Insurance.
The partnerships are with AIG-linked managing digital agency Azur Group, global specialty (re)insurer Canopius and British Engineering Services.
“The additional products increase the range of options available for those looking for cover in the construction and engineering industry as Ensurance focuses on becoming the ‘one stop shop’ for construction risk protection,” the company says in an investor update.
In a white-label agreement with Azur, Ensurance UK will provide solutions for private clients undertaking home improvement and building projects. With Canopius, it will offer latent defects insurance for the UK commercial construction sector.
The deal with British Engineering Services involves tailored solutions for sudden and unforseen damage.
Ensurance says revenue in the September quarter grew 4.8% to $1.1 million.
Shareholders have approved the $4.1 million sale of the domestic retail brokerage arm to SHC Insurance, which was announced in July.