It has been announced that Markel International is to partner with European yacht insurance provider Pantaenius.
Pantaenius has offices across Europe, USA and Australia and has been providing a range of yacht insurance and related protection for yacht owners for more than 50 years.
Markel’s yacht and superyacht team was established two years ago, with the appointment of senior underwriter Mike Wimbridge to head up the business. Mike will become part of Pantaenius, while remaining located in Markel’s London office.
“There’s a lot Markel and Pantaenius can do together,” said Chris Fenn, Markel’s marine business MD.
“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.”
Martin Baum, Pantaenius MD, added that times are changing for insurance companies: “Pantaenius and Markel’s partnership is the logical development when faced with today’s unstable yacht insurance market.
“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”.
