New Operating Model for Largest Managing General Underwriter
London, 5 June 2018 - The Schinnerer Group announced today that it is rebranding as Victor, a name reflective of the firm’s history and its new global operating model. Victor is the world’s largest managing general underwriter (MGU), currently servicing greater than $1 billion in premium.
The Schinnerer Group’s businesses will take up the Victor brand over the next year, and combine to operate as a global entity. This includes Victor O. Schinnerer & Company in the US, ENCON in Canada, Bluefin Underwriting in the UK, Mees & Zoonen in Italy and the Netherlands and Schinnerer’s operation in Bermuda. Recent Schinnerer Group acquisitions, ICAT and Dovetail Insurance, will also be part of the Victor global business but retain their current names.
“By unifying our companies under a global brand and combining capabilities in analytics, underwriting and technology, we will be able to more quickly offer innovative insurance products and services to our clients around the world,” said Victor CEO Christopher Schaper.
Victor’s strategy is founded on four key components:
- Underwriting: Combining extensive underwriting experience with modern data and analytics capabilities.
- Technology: Providing cloud-based solutions that enable agents and brokers to quote, bind and issue insurance policies in real time – all in one place.
- Distribution: Enabling a global network of more than 25,000 active insurance agents and brokers.
- Capital: Collaborating with leading insurance carriers and alternative capital providers to offer organizations innovative coverage solutions.
Mr. Schaper added: “Disruption in the insurance industry creates an opportunity for a new approach to the business. Through advanced technology and an innovative global approach to risk analysis, distribution and capital, Victor is well positioned to succeed in the changing environment, building our business organically and through strategic acquisitions.”
About The Schinnerer Group
The Schinnerer Group is one of the largest and most experienced underwriting managers of specialty insurance programs in the world. The Schinnerer Group includes Victor O. Schinnerer & Company in the United States, ENCON in Canada, and other MGU enterprises globally. The Schinnerer Group transacts on behalf of numerous insurance carriers, through a large network of active agents and brokers. As a result of the rebranding, the holding company The Schinnerer Group will rebrand to Victor Insurance Holdings.