Iberian MGA launches, supported by PartnerRe Wholesale
Iberian Insurance Group (IIG), a specialist managing general agent (MGA), has been launched to focus on the growing small to medium-sized (SME) insurance market in Spain.
The company will offer professional indemnity (PI) and directors & officers (D&O) for a broad range of SME professions.
The new agency will be supported by a strategic partnership with PartnerRe Wholesale, the specialist SME division of reinsurer PartnerRe.
The partnership will see IIG operate across the Spanish SME insurance market as part of a five year commercial agreement, but may also extend to other parts of Europe in the future. The deal also represents PartnerRe Wholesale’s first partnership with a distribution partner in Spain.
PartnerRe Wholesale will provide full time support through a number of services including IT, marketing and claims management through the division’s BindingAuthority+Plus offering.
Dario Spata, chief executive officer of IIG, said: “This partnership is key to the success of our business, particularly when you consider the ongoing recovery of the Spanish SME market. We’ve already seen clear demand for our product set, particularly professional indemnity insurance, and this is forecast to grow over the next several years.
“Our partnership with PartnerRe Wholesale will provide us, as a newly formed business, with the capacity and operational tools to maximise the opportunities available in the Spanish SME sector.”
Marc van der Veer, general manager of PartnerRe Wholesale, added: “Over the past year, we’ve managed to grow our portfolio of partners globally, particularly in Europe, and we’re excited by our first agreement in Spain. There is a clear opportunity in the Spanish market, and we look forward to helping IIG take advantage of this, and working alongside them as they grow their book of business.”
