CHARLOTTE, N.C., Sept. 10 /PRNewswire-FirstCall/ -- Royal & SunAlliance
USA has teamed up with Universal Reinsurance for its new, groundbreaking
Personal Insurance Agency Captive Program.
(Photo: http://www.newscom.com/cgi-bin/prnh/20010119/CHF001LOGO-b )
For several years, Universal Reinsurance has worked closely with Artis(R),
Royal & SunAlliance's Commercial Lines Alternative Risk Transfer business.
This well-established relationship will contribute to the smooth
implementation of the innovative Royal & SunAlliance Personal Insurance Agency
"We have enjoyed a mutually beneficial relationship with Royal &
SunAlliance for many years, and we are very excited to embark on this
innovative new venture," stated Hal Forkush, President of Universal
Reinsurance Company Limited.
"The creation of a Personal Insurance Agency Captive Program raised some
unique issues," said Mike McNally, Vice President of Personal Insurance
Marketing at Royal & SunAlliance. "Our existing relationship with Universal
Reinsurance, which actually owns the registered trademark Rent-A-Captive(R) in
the US and UK, is invaluable to the success of the program."
The Royal & SunAlliance Personal Insurance Agency Captive Program was
introduced earlier this year and is the centerpiece of the company's personal
insurance strategy. Under this new program, agencies share in the proceeds
from their book of business in addition to earning commissions, more than
doubling their profit potential over traditional profit-sharing agreements.
For more information about the Royal & SunAlliance Personal Insurance
Agency Captive Program, contact Jeff Quinn at 704-522-3159 or Mike McNally at
About Royal & SunAlliance USA
Royal & SunAlliance's Personal Insurance business is part of the company's
Consumer Division, which provides a variety of customized insurance coverages
including homeowners, standard and preferred auto, nonstandard auto, boat,
umbrella, motorhome, and flood. The Division also offers credit-related
insurance programs for banks, credit unions, leasing/finance companies and
Royal & SunAlliance USA is one of the 25 largest property/casualty
insurers in the United States, delivering a variety of client-driven
commercial and personal insurance solutions. Royal & SunAlliance USA is part
of London-based Royal & Sun Alliance Insurance Group plc (NYSE: RSA; LSE),
which transacts business in more than 130 countries and ranks as one of the
10 largest multi-line insurers in the world.
About Universal Reinsurance
Universal Reinsurance Company Limited, organized in 1974, is independently
owned and operated with ownership residing in Bermuda, exclusively. It is one
of the oldest offshore Rent-A-Captive(R) vehicles in the world and serves all
aspects of the alternative risk market.
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SOURCE Royal & SunAlliance USA