(Image credit: Karsten Bergmann.)
Nationwide (Columbus, Ohio), one of the largest insurance and financial services companies in the United States, and Generali (Milan), one of the largest global insurance and asset management providers, through its property/casualty unit Generali Global Corporate & Commercial (GC&C), have embarked on a joint venture to address the needs of businesses whose operations cross borders. The new joint venture, N2G Worldwide Insurance Services, LLC (N2G) will support multinational solutions for international commercial clients. Commercial property/casualty gross written premium in multinational programs is currently estimated at around $33 billion in the U.S. and Europe markets.
The companies report that N2G will exclusively promote, distribute and administer insurance solutions for multi-national exposures on behalf of both organizations. Business to N2G will be sourced through independent agents, brokers and wholesalers. N2G will leverage Nationwide’s U.S. based brand recognition and distribution with Generali’s footprint as a major global insurer with a large international network and marketing capabilities across the property and casualty spectrum. With the combined resources of both Nationwide and Generali, N2G will be well positioned to address the needs of multinational organizations with U.S. operations as well as U.S. based clients with complex multinational insurance needs, the companies say. Nationwide will assume U.S. risk exposures and Generali (directly or through its partners) will assume non-U.S. exposures.
“We are proud to join forces with a strong partner like Generali, combining our trusted customer-focused protection with their existing multinational footprint,” comments Mark Berven, President & COO, Nationwide Property and Casualty. “This partnership between two insurance powerhouses will elevate the solutions we can offer to commercial members to help them protect their business across the globe with extraordinary care.”
Comprehensive, Seamless Multinational Program
“This partnership is part of our strategic plan 2021 to be a Life-Time Partner to our customers, offering them innovative and personalized solutions,” comments Marco Sesana, Country Manager Italy & CEO of Generali Italia and Global Business Lines, Generali. “Today we are proud to announce this joint venture that brings together Nationwide’s brand recognition and distribution with Generali Global Corporate & Commercial’s extensive global network and local knowledge in over 160 countries around the world. N2G will be fully equipped to offer a comprehensive and seamless multinational program to its customers.”
Bill Skapof will lead N2G as CEO. Skapof joined Generali in 2015 as Head of GC&C US, Executive VP and Chief Underwriting Officer. Skapof is a senior property/casualty underwriting sales executive with 30 plus years’ experience developing product, distribution and sales strategies in support of global commercial markets.