MEDIA ALERT: 29 June 2022

Acrisure Re the (re)insurance division of top-10 global insurance broker and fintech platform Acrisure, is pleased to announce that its Facultative team has signed a preferred partnership broker agreement with Mahindra Insurance Brokers, for Indian facultative business, effective immediately.

Headquartered in Mumbai, Mahindra Insurance Brokers (MIBL) is a subsidiary of Mahindra & Mahindra Financial Services (Mahindra Finance) - one of India’s leading non-banking finance companies. MIBL is a one stop shop for insurance solutions.

The preferred broking agreement follows Acrisure Re's recent appointment of Duncan Ainsby to lead its new Asia Facultative operation and highlights the growth of its global Facultative proposition led by Ghassan Mansour, Head of Facultative. The agreement gives Mahindra Insurance Brokers access to the global reinsurance markets, significant broking capabilities spanning non-marine lines and access to the full suite of Acrisure Re analytical tools and solutions.

Matthew Harvey, Head of Broking at Acrisure Re Fac, said: "India is an important and growing market with significant demand for facultative solutions. This agreement is further evidence of our commitment to expanding our footprint and capabilities partnering with a major player in the market. We are very proud to be working so closely with our friends at Mahindra Insurance Brokers and look forward to building on our success together."

Commenting on the association, Vedanarayanan Seshadri, MD & Principal Officer of Mahindra Insurance Brokers said: "Acrisure Re's extensive expertise, proven ability to provide complex structured facultative placements and their ability to access global markets will be of real value to us. We are very pleased to partner with the reinsurance arm of the world's fastest growing independent broker and, on a personal basis, to formalise our long and productive working relationship."

About Acrisure Re

Acrisure Re is a premier reinsurance broking and advisory firm with a reputation for innovative reinsurance placements for complex and technical books of business. Operating in Bermuda, Florida, Hong Kong, London, Minnesota, New York, North Carolina, Seattle, Toronto and Zurich, Acrisure Re works with major insurance companies and insurance distribution partners to understand and achieve corporate risk management goals through the purchase of reinsurance and insurance portfolio solutions. By fostering a team mentality, both internally and with clients, the company develops a thorough understanding of clients’ situations and markets, and identifies creative, unique opportunities for innovative and ingenious solutions that add value and get positive results.

Acrisure Re has a global team of over 260 experienced and talented employees dedicated to providing advisory, portfolio, and reinsurance solutions.

About Mahindra Insurance Brokers Limited (MIBL)

Mahindra Insurance Brokers Limited (MIBL), licensed in 2004, is a subsidiary of Mahindra & Mahindra Financial Services Limited and part of the USD 19.4 billion Mahindra Group. A licensed Composite Broker (Direct and Reinsurance), Mahindra Insurance Brokers is a one-stop shop for insurance solutions.

The Company provides direct insurance broking for Corporates, Small & Medium Enterprises, Retail customers, and a range of products for Life and Non-Life Insurance. It also offers risk management services, portfolio management and claims management services. Mahindra Insurance Brokers helps in protection of health, wealth and life in the under-served markets, by providing innovative insurance solutions to over 3,00,000 villages. Mahindra Insurance Brokers also provides Reinsurance broking services, with relationships with insurers and reinsurers spread across 40 countries.

Mahindra Insurance Brokers is the World’s First Company in the BFSI sector to be appraised and rated at Maturity Level 5 of the People-Capability Maturity Model (P-CMM®), demonstrating its focus on implementing world-class best practices with respect to the management and development of its workforce. Mahindra Insurance Brokers has been ranked at #10 in "India's Top 100 Best Companies to Work For-2020" and “Best in Insurance” by Great Place to Work® Institute. Visit us at: www.mahindrainsurance.com

For Media Inquiries:

Peter Rigby, Peter.Rigby@haggie.co.uk, +44 (0)20 7562 4444
Ben Abbotts, Ben.Abbotts@haggie.co.uk
Olivia Thomson, Olivia.Thomson@haggie.co.uk
Mohan Nair Head – Communications Mahindra & Mahindra Financial Services Limited
nair.mohan@mahindra.

Important Information:

For additional information, please visit our website at Acrisure.com. Products or services identified herein may not be available in all jurisdictions. The information and descriptions contained herein (a) are not necessarily intended to be complete descriptions of all applicable terms, conditions, and exclusions of the policies referenced, (b) are provided solely for general informational purposes, and (c) should not be viewed as a substitute for legal, regulatory, or other advice on any particular issue or for any particular reason. The advice of a professional should always be obtained before purchasing any insurance product or service, and you should not rely on the information provided herein for the prevention or mitigation of risks or as a full and complete explanation of coverage under any insurance policy. While the information contained herein has been compiled from sources believed to be reliable, no warranty, guarantee, or representation, either expressed or implied, is made as to the correctness or sufficiency of any representation contained herein.

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