Following a review of the way in which Calliden manufactures and distributes commercial package business, Calliden has negotiated a three year strategic alliance with Great Lakes Australia (GLA).

Under the agreement Calliden will underwrite future commercial package business through its Retail Underwriting Centre as agent on behalf of GLA.

For intermediaries there will be little change as Calliden will continue to provide the Callibrate systems, customer service, marketing, relationship management, credit control and claims management.

Calliden will also continue as the insurer for all other products including motor, home and business written through the Group’s specialist agencies. This includes all commercial package business currently distributed through a Calliden supported agency.

Benefiting from the alliance

As an intermediary partner of Calliden the alliance provides you with:

• access to rated S&P AA- (Very strong) security
• continued access to reliable modern technology at the front end, centralised back office, quality claims management and efficient customer service
• dual benefits of Calliden’s effective distribution platform with GLA’s capital strength.

Supporting you through the transition process

The exact transition date in 2012 is yet to be determined as it is dependent on a number of administrative and systems changes but it is likely to be within Q2 2012. As an interim arrangement, and commencing 1 January 2012, Calliden will have in place a quota share reinsurance programme with Munich Reinsurance Company in relation to its commercial package business.

Next steps

We’ll advise next steps as soon as possible and provide more details including the necessary changes to policy wordings and associated statutory disclosure documentation.

About Great Lakes Australia

GLA is rated by S&P as AA- (Very strong) and is an APRA regulated insurer. GLA is the Australian branch of Great Lakes Reinsurance (UK) PLC - a wholly owned subsidiary of Munich Reinsurance Company.

GLA provides underwriting expertise and insurance support to selected underwriting agency partners.

For more information about GLA visit their website.

How do I find out more information?

To find out more about the alliance download our FAQs, while our client fact sheet will help you to guide your clients through the changes.

To keep informed with the transition process, we encourage you to sign up for updates.

More questions? Email us at bestofbothworlds@calliden.com.au.