To provide insurance agents and brokers in Italy with an enhanced range of specialized insurance solutions, Victor, the world’s largest managing general underwriter (MGU), today announced the launch of Victor Insurance Italia. The announcement follows the global launch of the Victor brand earlier this month with Italy becoming the first country to roll out the new global brand. Victor Italia will offer specialized insurance products for the business sector through independent agents and brokers and is based in Milan.
Previously known as M&Z Italia, Victor Insurance Italia (Victor Italia) offers professional indemnity products for architects, engineers, surveyors, real estate agents and geological consultants as well as fine arts insurance and personal accident insurance for businesses’ employees. Working with Victor colleagues globally, the new Victor Italia will expand that product base, making new solutions available more quickly through the use of technology, including online portals for agents.
“As the first country to launch the Victor brand, we will be able to bring the innovation of this global business quickly to our clients,” said Tony Cabot, president of Victor Italia. “Our focus is on developing new products that enable agents and brokers to gain a competitive edge in the Italian market and on continuing to grow our best-in-class digital products to ensure agents, brokers and their clients get their insurance online and on time.”
Victor, previously known as The Schinnerer Group, launched globally on earlier this month. In addition to Victor Italia, other businesses that will rebrand as Victor include Victor O. Schinnerer & Company in the US, ENCON in Canada, Bluefin Underwriting in the UK, Mees & Zoonen in the Netherlands and Schinnerer’s operation in Bermuda. Recent Schinnerer Group acquisitions, ICAT and Dovetail Insurance, will also be part of the Victor global business but retain their current names.
Victor CEO Christopher Schaper said: “The Italian market’s history of innovation makes was one of the main reasons we chose Italy as our first country launch. As a new type of insurer, we are focused on four key areas – underwriting, technology, distribution and capital – and look forward to bringing the results to agents, brokers and businesses in Italy.”
Operating as a global entity, the group provides insurance to more than 25,000 agents and brokers and services more than $1 billion in premium. As an MGU, Victor underwrites insurance, processes claims and provides services customers generally receive from insurers but do so on the behalf of traditional insurers and other capital providers. It does not maintain the capital risk.
Victor is the largest managing general underwriter (MGU) in the world with locations in the United States, Canada, United Kingdom, Bermuda, Netherlands and Italy. With deep, specialized underwriting expertise, the company provides a wide range of insurance coverage — from specialty property and casualty to professional liability to group and retiree benefits. Victor is committed to building on 60-plus years of experience to develop products that address risk in new and evolving areas.
Through the use of advanced technology and an innovative approach to matching risk, distribution and capital globally, Victor is transforming the way insurance solutions are offered to agents, brokers and insureds making it quicker, easier and more efficient to purchase and write insurance, on behalf of carriers or with alternative capital sources.
Victor Insurance Holdings, formerly known as The Schinnerer Group, handles greater than $1 billion in premium on behalf of numerous insurance carriers, through a large network of more than 25,000 active insurance agents and brokers. For more information, visit www.victorinsurance.com.