Manoj Kumar, group chief executive officer and chairman, MNK Group
MNK Group, the independent international insurance group, has also recently completed the acquisition of 100% of ETU Forsikring A/S, a Danish non-life insurer authorised since 2006 and headquartered in Rødekro, Southern Jutland, following approval from the Danish Financial Supervisory Authority (Finanstilsynet).
London:MNK International, a leading independent Lloyd’s broker,set up by Indian born Manoj Kumar, group chief executive officer and chairman, has announced the launch of MNK International North America, a new broking business that will provide North American producers and clients with access to specialist insurance solutions through the London and Bermuda markets.
MNK International North America will be led by new CEO Julian Ball, who brings over 35 years of experience in the North American insurance market. Previously, he has held senior roles in London and New York, including establishing and building North American specialty businesses at United Insurance brokers, leading a wholesale business serving the US market at Marsh, and overseeing US growth and client development at Bowring Marsh.
Based in London, Ball will lead the development of specialist teams in London, broadening the firm’s product offering and strengthening relationships with clients across the region. The business will target opportunities in established sectors including transportation & auto, commercial property, delegated authority business, professional & financial, marine hull & cargo, healthcare & life science, natural resources, construction & engineering, crisis management, renewable energy and cyber.
Ball will also oversee the development of a digital platform for North American clients and explore opportunities to create proprietary solutions in collaboration with other businesses across MNK Group.
Meanwhile,MNK Group, the independent international insurance group, has also completed the acquisition of 100% of ETU Forsikring A/S, a Danish non-life insurer authorised since 2006 and headquartered in Rødekro, Southern Jutland, following approval from the Danish Financial Supervisory Authority (Finanstilsynet).
MNK Group’s priority is to strengthen ETU as a Danish insurer.
The group is committing new capital to the business and intends to grow its existing Danish and Nordic franchise, continuing to serve ETU’s policyholders and distribution partners while investing in the company’s people, products and technology in Denmark.
Licensed by one of Europe’s most respected regulators, ETU is authorised across eleven non-life classes, including Property (Fire and Other Damage), General Liability, Motor, Marine Hull and Liability, Goods in Transit (Cargo), Accident, Legal Expenses and Assistance. It already holds freedom-of-services passports into Sweden and Norway, and into Germany, Austria, France, Italy, Greece and Malta. ETU thereby becomes MNK Group’s first dedicated risk carrier in the European Union, and over time the Group intends to develop the company into a hub for its wider European operations, with further lines of business to follow subject to regulatory approval.
For brokers, coverholders and capacity partners in Denmark, the Nordics and across the EU and EEA, the acquisition means access to a Solvency II-regulated carrier backed by MNK Group’s specialist underwriting expertise, its Lloyd’s broking capability and its global network of MGAs. Under MNK Group ownership, ETU will combine traditional insurance products with technology-enabled distribution and service, continuing the Group’s investment in digitalisation across its underwriting businesses.
The Danish carrier joins a group whose operations span the United Kingdom, continental Europe, the United States, Latin America, Bermuda, the Middle East and Asia, reinforcing MNK Group’s position as a global specialist platform for niche and complex risks.