Novus Underwriting has added Collinson Insurance to its panel for annually renewable warranty products, covering more than 500,000 policies.

The new, exclusive binding authority builds on existing relationships with other providers, enabling it to deploy capacity across the UK, Asia, Middle East and Europe.

Novus writes over £230m GWP per annum across mobile device protection, extended vehicle warranty, GAP, affinity programmes, appliance and furniture warranty and financial protection products. It is targeting £550m within five years and plans expansion into the US, Australia and India.

John McGonigle, chief underwriting officer at Rokstone Consumer, said: “The Novus team at Rokstone has ambitious plans, and we’re delighted that Collinson Insurance shares our vision. It operates incredibly stringent due diligence processes, so this expansion of our relationship is a huge endorsement of our expertise."

Lawrence Watts, CEO at Collinson Insurance, added: “Novus has a strong track record for underwriting excellence and service innovation, precisely what Collinson Insurance prioritises. The partnership will be a valuable addition and supports our strong growth ambitions.”

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