Zurich has extended its relationship with underwriting agency NM Insurance with an agreement to provide capacity for Proteus Marine.

NM Insurance CEO Lyndon Turner says the agreement, effective next month, will enable the firm to scale and grow the Proteus Marine offering to broker partners.

“We are pleased to further extend our alliance with Zurich, in addition to our other insurance products and services supported by Zurich successfully for the last two years,” he said today.

“This is a natural alignment with our other products and services successfully supported by Zurich including Nautilus Marine, National Motorcycle and Australian Caravan Insurance.”

Proteus Marine provides cover for commercial marine lines of cargo, carriers, commercial hull and marine liabilities.

Zurich says NM has an extensive network and market strength and the agreement represents an important pillar of Zurich’s strategy and builds on an already strong relationship between the firms.

“The Proteus product suite is directly aligned to Zurich’s global marine strategy and will provide Proteus customers with tailored solutions for their risks,” Zurich Australia and New Zealand Head of Marine James Butchart said.

QBE has previously provided capacity for Proteus, with policies incepted after 11:59pm on August 31 to be underwritten by Zurich Australian Insurance Ltd, the website says. NM Insurance is majority owned by Steadfast.