Nautilus Marine Insurance merge SPT Insurance Personal Watercraft portfolio into their product line

by Nautilus Marine Insurance 28 Jul 2023 03:38 BST

Jet Ski © Kawasaki

Established for over 18 years, Nautilus Marine Insurance is a leading and innovative insurance provider of insurance solutions to the Australian and New Zealand marine leisure market. Providing quality cover for private vessels, marine businesses, and supporting the industry is at the very heart of what they do.

In July 2022 Nautilus Marine Insurance partnered with SPT Insurance to manage and underwrite SPT's established Personal Watercraft (PWC) portfolio. Over a 12- month period both teams worked closely together to ensure a smooth transition took place. The successful result produced enhancements in cover and competitive premiums, and a streamlined market approach for existing and potential clients. The successful partnership between Nautilus Marine Insurance and SPT has progressed to the stage of a full purchase agreement of the portfolio. The completion of the purchase process will be effective as of 1st August 2023.

Lyndon Turner, CEO of Nautilus Marine Insurance, commented on the announcement. "I have been associated with SPT directors Brian Salisbury and Roslyn James and their team for over 20 years now. We have always respected their specialised PWC program and have had a positive experience underwriting it. To be able to look to the future by completing this full purchase transaction is an exciting move and we look forward to providing first class insurance to the customers."

SPT Insurance Principal Brian Salisbury comments "SPT Insurance has been in the marine insurance market for 38 years, and throughout that time we have placed integrity, caring service, and reliability at the heart of what we do. We also highly value expertise and long-term relationships and have known Lyndon and members of the Nautilus Marine Insurance team for many years. So, we knew partnering with Nautilus Marine Insurance would lead to significant benefits for our customers. Nautilus Marine Insurance share many similar values with SPT Insurance and are experts in the marine insurance space, offering a premium product with quality coverage, service and claims support. The portfolio purchase is a natural evolution of our partnership with Nautilus Marine Insurance and we take great comfort in knowing that our customers will be in safe hands with the Nautilus Marine Insurance team."

The successful outcome of the transition, and enhancement of the PWC product offering, is seen by all parties as an endorsement of many years of hard work from the SPT Insurance team, coupled with Nautilus Marine Insurance's purpose-built PWC wording and dedication to the marine industry.

Jet Ski - photo © Kawasaki

Glen Schembri, Head of Client and Market Development for NM Insurance, has been responsible for ensuring a seamless transition for SPT and its valued clients. "The years of hard work from SPT building a great reputation and portfolio with Jet Ski (PWC) owners coupled with Nautilus Marine Insurances purpose built PWC wording and dedication to the marine industry is a perfect match."

Nautilus Marine Insurance is excited to enhance our support for insurance broker partners and actively seeks engaging conversations with organizations that share our values and objectives.

Nautilus Marine Insurance's PWC policies include: