Howden, the worldwide insurance coverage middleman group, at present publicizes that it has agreed to accumulate the Musical Insurance coverage ebook from Allianz UK and can incorporate its buyer base and advertising and operations groups into Howden’s established music scheme, Lark Music.
Monetary particulars of the transaction weren’t disclosed.
This acquisition enhances Lark Music’s current ebook of enterprise, which presently primarily companies increased worth devices, and displays its ambition to materially broaden its product providing to cowl the total spectrum of musical instrument insurance coverage for musicians of all ages and talents.
Allianz Musical Insurance coverage, which focuses on musical instrument and tools insurance coverage for musicians within the UK, has traded for over 60 years. Allianz UK will proceed to underwrite because the unique capability supplier for the newly named Lark Music Keynote product, which includes the Allianz Music Shield and Lark Music Important merchandise.
Lark Music will probably be liable for the day-to-day working of consumers’ musical instrument insurance policies and claims.
This newest acquisition follows Howden’s recent acquisition of Hencilla Canworth, a number one British specialist performing arts insurance coverage dealer.
“Mixed, our two companies symbolize £7.3 million GWP and can service 68,000 prospects, offering them with entry to a full spectrum of musical instrument insurance coverage merchandise, each within the UK and internationally,” in keeping with Dean Wright, divisional director, Schemes Division, Howden.
“This step with Howden presents a superb alternative for development within the musical insurance coverage area, and we’re assured that it’ll efficiently increase and enhance the choices out there for patrons. We’re proud to be the UK underwriter for Lark Music’s new Keynote insurance coverage product, a testomony to our experience and repute within the trade,” commented Kieran O’Keeffe, MD for Specialty, Allianz UK.
“With their strategic focus and funding and our underwriting experience, the objective is to create a seamless expertise for all to make sure that Allianz Musical Insurance coverage’s wonderful service is not only maintained however enhanced,” O’Keeffe added. “Our specialist advertising and operations colleagues who’re transferring throughout to Lark Music will proceed to take care of prospects and the broader music trade via partnerships and sponsorships.”
Based in 1994, Howden operates in 55 nations throughout Europe, Africa, Asia, the Center East, Latin America, the USA, Australia and New Zealand, using 18,000 individuals and dealing with US$38 billion of premium on behalf of purchasers.
Supply: Howden
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