Directors Blog | An NMU for the Future6th February 2018
Innovate and Maintain Core Values
Executive Director, Nick Limb, talks 2017 and looks into the future at NMU
2017 was an exciting year for NMU – one full of challenges and opportunities.
We have continued to work far closer with our parent company Munich Re Syndicate as part of their wider International Distribution network, looking at ways to both improve and strengthen our business model.
During 2017 we successfully integrated the Marine Trade book, launched at the annual BIBA conference and Exhibition. The account from our sister company has not only fitted exceptionally well into our business but it has also shown healthy growth. Our recent sponsorship of the “Marina of the Year Awards” at the London boat show was a particular highlight and something we were very proud to be associated with.
We also relaunched our stand-alone terrorism insurance product to include non-damage business interruption extensions. The evolving nature of terrorism incidents brings a whole new set of risks and exposures not previously considered or catered for by the market, particularly in relation to BI losses. Recognising this, our new terrorism product was updated to specifically include the critical protection that policyholders need.
An enormous amount of work goes into what we do and how we do it and the year ended on the most exceptional note when we won an unprecedented three awards at the Insurance Post 2017 Underwriting Service Awards dinner in November…