Axon acquires AGCS' US recall portfolio

Axon Underwriting has acquired the renewal portfolio of Allianz Global Corporate & Specialty’s US Contaminated and Consumer Products Recall insurance business.

Axon expanded its suite of specialised insurance products in January with the underwriting capabilities to offer contaminated product recall, consumer goods product recall, and restaurant foodborne illness and contamination insurance.

All three products will be underwritten on a non-admitted basis in partnership with the E&S and specialty companies of Nationwide, and will offer a capacity of USD$10m.

Marcos Garcia Norris, senior vice-president at Axon said: “Companies that choose to renew policies with Axon will benefit not only from an overall smooth transition, including the knowledge of their renewals by the Axon underwriters, but also from Axon’s best-in-class underwriting capabilities, dedicated claims handling, and very solid financial strength. For Axon, this opportunity helps further position us as a leading crisis management insurance company and supports our strategy of expanding our customer base in the US.”

    Share Story:

YOU MIGHT ALSO LIKE


The Future of Risk & Resilience with AI & Data
CLDigital's Co-Founder, Tejas Katwala, joins CIR Magazine to discuss how CLDigital is transforming enterprise risk and resilience. By integrating business processes, AI and data-centric strategies, organisations can move beyond compliance to proactive risk management – simplifying operations, strengthening resilience, and driving business performance. Listen now to explore the future of intelligent risk management.

Investec is disrupting premium finance – Podcast
Investec made waves in entering the premium finance market, where listening and evolving in response to brokers made a real difference.

Advertisement