Centriq announce new CIB partnership
Specialist insurer, Centriq Insurance Company Limited, is proud to announce an exciting new partnership that sees CIB Insurance joining Centriq as its newest underwriting manager, effective from 1 April 2008.
Says Martin Le Roux (pictured right), client manager at Centriq: “We have always admired and considered CIB to be an outstanding underwriting administrator and are delighted that it has chosen Centriq as an insurance partner to take it through the next phase of the company’s evolution” says Le Roux.
“CIB’s powerful reputation for excellent service delivery, innovation and overall passion for their business resonates strongly with Centriq’s own ethos of service excellence, creativeness, partnership and a belief in associating with the best,” continues Le Roux.
CIB Insurance has always believed that to remain competitive in the insurance sector, it has to be the best at what it does and offer a sustainable competitive advantage over some seriously strong rivals. It is for this reason that CIB Insurance will be entering into a partnership with Centriq. “This partnership with Centriq comes at the commencement of CIB’s next growth phase and offers a stepping stone in making our visions for the future a reality,” says Douglas Donnelly, CEO of CIB Insurance
CIB is joining Centriq’s existing stable of underwriting managers which is made up of specialists that underwrite various classes of business including motor fleet; deductible buy down; high net worth personal lines; engineering; crop; marine; professional indemnity; financial lines and liability business.
“We are confident that our partnering with CIB will also serve to open up numerous cross selling opportunities within our current underwriting manager network as well as enable the Centriq brand to gain additional prominence within a broader broker audience,” says Le Roux.
With a shared belief in valuing relationships and customer service, CIB Insurance and Centriq are committed to placing their clients first. As such, the policy wording currently held on all CIB Insurance policies will remain the same, including the rates, terms, conditions and excesses.
The decision to move from Hollard to Centriq was not taken lightly as Hollard has supported and sustained the growth experienced by CIB over the years. “CIB Insurance is grateful for the relationship that we have shared with Hollard over the last nine years” says Donnelly.
It has become a business trait of CIB Insurance to continuously re-invent the rules of engagement in order to offer a more agile service to their brokers. By partnering with Centriq, CIB Insurance will have the opportunity to manage its own treaties, which will lead to wider offerings through broader reinsurance treaties as well as more flexibility for product development. “CIB has a strong synergy with the Centriq model,” says Donnelly. “Our businesses compliment each other which can only lead to bigger and greater things in the future.”
“We are certain that the future with Centriq will be a bright one, and that CIB will continue to offer its brokers the kind of exceptional service they have come to expect from us,” Donnelly concludes.
