Auckland-based underwriting agency Delta Insurance is merging its property business with Delta Insurance New Zealand, which will be led by Andrew Beaton.
Mr Beaton is currently Delta Property MD. Dinesh Murali, currently Delta New Zealand MD, will move into a newly created role of GM Portfolio and Distribution.
Group CEO Kent Chaplin said the merger, effective March 31, will unify the businesses under a common brand and strategy, under one leadership team, which will create more unity in the over 45 group.
“This has had a number of positive outcomes … including an increased ability to scale our services as the business grows, greater internal efficiency and the consolidation of boards into one committee with reduced management and operating costs, ” he says.
The new entity plans to diversify and expand to offer a wider range of policies and products.
“Our employees will see new opportunities and career pathways open to them. This will provide opportunities for secondment and professional growth within a larger organization with a wider range of specialties,” said Mr Chaplin. .
Brokers will no longer be required to submit multiple closings or send separate premium remittances, reducing their back-end administrative requirements, while customers with multiple policies will have a single point of contact relationship with Delta’s insurance product lines.
“Effectively, the merger will establish a multi-line underwriting capability,” said Group Executive Director Underwriting and Co-Founder Craig Kirk. “It’s about greater organizational unity.
“Operating under a single administrative and claims team increases our internal efficiency and will ultimately allow us to diversify our product lines into new areas. customers to transact with us .”
The two businesses insure more than 24,000 risks in New Zealand.
In December, Delta was named underwriting agency of the year for the fifth consecutive time at the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) New Zealand insurance industry awards, while Mr Kirk was crowned insurance leader of the year .
“We have faced and overcome significant obstacles within our business over the years that have not been easy on our team or our leadership group. I want to thank our amazing team for believing in our vision,” said Mr Kirk on accepting the award.
Delta has offices in Australia and Singapore.
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