NMU reaches agreement for acquisition of commercial Marine Trade combined book22nd January 2020
NMU has taken the strategic decision to withdraw its commercial Marine Trade combined product from the UK & Irish broker market and has reached an agreement with Navigators & General (N&G) who acquire the book for an undisclosed sum.
NMU shall cease writing new business with immediate effect but continue to invite renewals for risks renewing up to and including 1st February 2020.
David Perfect, CEO said, “The decision had come following a strategic review our Marine Trade combined portfolio. This account which, prior to its integration into NMU, comprised what was previously GJW’s book, will transfer to N&G at renewal. As part of the arrangement NMU marine trade underwriters will move across to N&G.
“Brokers can be assured that it’s very much business as usual for all other NMU product lines.”
For any immediate queries, please contact NMU’s Marketing Manager, Andy Baldwin on 0121 237 2006.