NBS Underwriting Announces New A-Rated Capacity with Hiscox Underwriting Ltd.
24 February 2025
NBS Underwriting (NBS) is delighted to announce the addition of new A-rated capacity to its insurer panel, effective from 20th February. This new capacity, provided by Hiscox Insurance Ltd (Hiscox), will be available on its non-standard household products, including Home and Contents Plus, Business Home, and Contents Plus schemes.
This marks the beginning of a long-term relationship that supports NBS’ strategy to expand its reach further in the non-standard household insurance market. By partnering with Hiscox, NBS is poised to offer even more comprehensive and competitive solutions for its brokers. The new arrangement will complement the existing household capacity provided by Tokio Marine HCC, creating a robust and diversified offering.
This opportunity has coincided with NBS enhancing its household products with improved policy wordings and a streamlined quotation process. Addressing key market needs, NBS household products specifically target properties at risk of flooding, those with a history of subsidence, and non-standard construction. Additionally, they cater to properties used for business purposes, claims-heavy risks, and homes that remain unoccupied for extended periods. This comprehensive approach ensures that a wide range of non-standard household insurance needs are met, providing brokers and clients with robust and reliable coverage options.
Steve Cowman, Managing Director of NBS Underwriting, commented: “We are excited to welcome Hiscox to our insurer panel. The addition of their A-rated capacity and expertise allows us to provide brokers with robust cover options for their clients. We look forward to the opportunities this partnership will bring and the strengthened value it will provide to our brokers.”
Lee Turner, National Schemes Sales Manager at Hiscox, said: “We look forward to working with NBS. They stood out as a partner for us due to our similar values and their strong ethos. We have been impressed with their consistent growth over the past years, which has been accompanied by excellent loss ratios. We are confident that this partnership will bring significant benefits to both companies.”
This partnership underscores NBS’s dedication to innovation and excellence in the MGA space, ensuring that brokers and clients alike benefit from superior service and comprehensive coverage options.
About The Hiscox Group
Hiscox is a global specialist insurer, headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). Our ambition is to be a respected specialist insurer with a diverse portfolio by product and geography. We believe that building balance between catastrophe-exposed business and less volatile local specialty business gives us opportunities for profitable growth throughout the insurance cycle.
The Hiscox Group employs over 3,000 people in 13 countries, and has customers worldwide. Through the retail businesses in the UK, Europe, Asia and the USA, we offer a range of specialist insurance products in commercial and personal lines. Internationally traded, bigger ticket business and reinsurance is underwritten through Hiscox London Market and Hiscox Re & ILS.