NM Insurance says a long-term binder with capacity provider Zurich sets the agency up for further growth and gives brokers confidence in its future success.

NM launched 20 years ago as Nautilus Marine Insurance Agency, with a focus on Australia’s recreational boat market. It evolved to become the NM Insurance group and has since grown rapidly and moved into New Zealand, as well as the commercial marine, caravan and motorcycle sectors.  

Zurich began providing capacity in 2020 and earlier this year signed a new five-year deal.

“This agreement secures long-term stability for our business, our broker partners and our customers,” NM Insurance CEO Lyndon Turner told insuranceNEWS.com.au.

“It allows us to continue delivering niche, market-leading products with the backing of a trusted global insurer. Importantly, it’s not just about continuity – it’s about momentum.”

The agency manages a portfolio worth $90 million and has more than 100 staff, and Mr Turner says the Zurich deal is a vote of confidence in its strategy and could open up further expansion.

“Zurich’s decision to extend our agreement reflects confidence in our disciplined underwriting approach, our performance and the growth strategy we’re executing,” he said.

“It gives brokers real confidence. They can continue placing business with us knowing our products are backed by a global insurer which also has a strong local commitment in Australia and New Zealand.  

“This also means continuity in service, claims and support – the people brokers already know and trust. For many brokers, we’re an important part of their niche risk strategy, and this agreement only strengthens that role.”

Zurich’s local head of general insurance Alex Morgan says the insurer values strong and stable relationships.

“NM’s track record, niche expertise and disciplined underwriting approach ensures the delivery of solutions that brokers and customers can trust,” he said.