SYDNEY – 30 April 2019 – Leading strata insurance specialist Longitude has announced an insurance arrangement led by Chubb which will take over from Vero, effective 30 April 2019.
The move enables Longitude to continue providing market leading cover to brokers in the strata sector and forms a key part of its long-term growth strategy.
Jarrod Hill, Chubb Country President, Australia & New Zealand said, “We are delighted to deploy Chubb’s property underwriting expertise, portfolio management capabilities and financial strength in this security arrangement with Longitude, one of the leading strata insurance specialists in Australia.”
“In addition to offering capacity, we will bring Chubb’s craftsmanship to this new agreement, delivering superior service and outcomes for all stakeholders,” he said.
Longitude Director Angie Zissis said the backing of Chubb would deliver additional capability for business and product development.
“We’re very pleased to have Chubb on board with Longitude Insurance,” he said.
“The expertise of both parties will enable us to evolve Longitude’s offering and continue to deliver an efficient and gainful broker experience.”
Mr Zissis said a key part of achieving Longitude’s medium and long-term growth objectives was to maintain a robust security underpinning.
“With almost seven years of building our strata portfolio from scratch, we were comfortable our position was strong enough to take the business to the next level,” he said.
Longitude General Manager Gordon Bell said, “It’s critical for Longitude to maintain a strong product offering to maximise opportunities for our supporting brokers and fast track our growth in the sector.
“Chubb is a recognised brand in the Australian strata market with an appetite for success. Their proven track record will enable Longitude to reach its business objectives.
Mr Zissis said, “We extend our sincere thanks to Vero for their support over the past six years.
They’ve played an integral role in establishing Longitude as a leader in the strata insurance sector and the brand’s success would not have been possible without their backing.”
Chubb Insurance Australia Limited
Grosvenor Place, Level 38, 225 George Street, Sydney NSW
O +61 2 9335 3368