Schinnerer Group launches first retail insurance solution backed by alternative capital

Press Release | April 21, 2017 | New York

The Schinnerer Group, through its subsidiary Victor O. Schinnerer & Company, an underwriting manager of specialty insurance programs, today announced the launch of Alternus, a new insurance facility that US companies can access to cover risks in their global property portfolios. Alternus is the first dedicated commercial insurance facility for retail clients backed by alternative capital.

Alternus is exclusively offered through Marsh, a global leader in insurance broking and risk management, and will cover up to 10% of an insured’s entire property insurance program with up to $200 million in limits per program.

The new facility is underwritten and managed by Schinnerer and backed by a combination of Allianz Global Corporate & Specialty (AGCS) and alternative capital through asset manager Nephila Capital Ltd.

“By drawing on a mix of traditional and non-traditional capacity, Alternus provides insureds with greater flexibility to manage an increasingly complex array of risks,” said Christopher Schaper, CEO, The Schinnerer Group, the parent company of Victor O. Schinnerer & Company. “Providing retail clients with direct access to alternative capital to cover their risk is a significant innovation.”

Alternus offers broad protection to a US-based organization’s global property risks including multi-year coverage, if desired. Protection includes natural and man-made perils.

“The Property & Casualty industry must continue to evolve at a fast pace and this innovative risk transfer vehicle will be most appreciated by clients,” said Bill Scaldaferri, CEO and President AGCS North America. “The launch of Alternus is a significant step in helping to transfer risk more broadly. Bringing this product to US-based commercial organizations is part of our commitment to expanding our overall footprint in North America.”

Nephila Capital Ltd. Co-Founder Frank Majors added: “The insurance sector has become increasingly attractive to the investment community. Through Alternus, we have created a strategic and innovative structure that enables Nephila to give insurance clients choice and also offers our investors access to risk in the US commercial property retail market.”


Allianz Global Corporate & Specialty (AGCS) is a leading global corporate insurance carrier and a key business unit of Allianz Group. AGCS provides risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks across 12 dedicated lines of business.

Our customers are as diverse as business can be, ranging from Fortune Global 500 companies to small businesses, and private individuals. Among them are the world’s largest consumer brands, tech companies and the global aviation and shipping industry, but also wineries, satellite operators or Hollywood film actors. They all look to AGCS for smart answers to their largest and most complex risks in a dynamic, multinational business environment and trust us to deliver an outstanding claims experience.

We constantly strive to deliver the best for our customers through our global team of around 4,400 employees from over 70 nationalities in 34 countries worldwide. As the one of the largest Property-Casualty units of Allianz Group, we are backed by strong and stable financial strength ratings and a global network in over 200 countries and territories. In 2018, AGCS generated a total of €8.2 billion gross premium worldwide.

Nephila Capital is a wholly owned subsidiary of Nephila Holdings Limited and is a Bermuda domiciled company. Nephila acts as the investment advisor on behalf of client accounts through various structures. Its asset base is exclusively comprised of large institutional investors that meet certain suitability criteria.
The Schinnerer Group is made up of the largest and most experienced underwriting managers of specialty insurance programs in the world. The Schinnerer Group includes Victor O. Schinnerer in the United States, ENCON in Canada, and other MGA enterprises globally. At Schinnerer, underwriting management has been a distinct discipline for over five decades. The Schinnerer Group handles greater than $700 million in premium on behalf of numerous insurance carriers, through a large network of approximately 10,000 active brokers.
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With the Allianz network AGCS provides services in over 200 countries and territories.