The Warranty Group, a single-source provider of extended warranties and related programs, has made a significant equity investment in National Underwriting Agencies (NUA).
Headquartered in Brisbane, Australia, NUA is a long standing Lloyds Coverholders and offers an extensive range of niche personal insurance products.
The Warranty Group president and chief operating officer Mike Frosch said the company is looking to launch NUA’s unique products portfolio into the US market.
"Partnering with NUA provides us with new products and clientele that will expand The Warranty Group’s global leadership position," Frosch added.
NUA director Alan Brewis said, "We are excited by the prospect of partnering with The Warranty Group to further enhance our market penetration for innovative, customer-focused insurance products utilizing our Lloyds relationships."
The product offerings include consumer credit insurance, event ticket insurance, accidental damage insurance for multiple consumer products, including mobile phones and eyeglasses, and other lifestyle protection products, such as accidental injury, trauma and involuntary unemployment programs.
Major clientele include OPSM, ANZ Bank, Sydney Opera House, Showbiz International and several ticketing agencies.