Markel International and Pantaenius form superyacht insurance partnership
More collaboration in the insurance market as Pantaenius, the long-established European insurance firm which focuses on providing cover for yachts, has entered into a partnership with insurance specialist Markel International.
The collaboration will bring together Markel’s London market expertise and relationships with Pantaneius’ highly respected position in the yacht industry.
Panataneius has been providing yacht insurance and related yacht protection for over 50 years, while Markel, an international insurance firm trading on the New York Stock Exchange, is a relative newcomer to the market sector.
Markel’s yacht and superyacht team was established two years ago, with the appointment of senior
underwriter Mike Wimbridge to head up the business. Wimbridge will become part of the Pantaenius team while remaining located in Markel’s London office.
“There’s a lot Markel and Pantaenius can do together” said Chris Fenn, managing director of Markel’s marine business. “Mike has known the Pantaenius team for many years and the respect they hold for each other will be a superb basis for the partnership.”
“Pantaenius and Markel’s partnership is the logical development when faced with today’s unstable yacht insurance market,” Martin Baum, managing director of Pantaenius says. “Two global players are forming a long-term strategy that combines Pantaenius’ global distribution network with great financial strength, in order to offer a one-stop-shop solution for yacht insurance.
“Mike Wimbridge will play an important role to modernise the process of placing yachts in the future. Times are changing.”