Youi exit paves way for new future
Blue Zebra Insurance has confirmed it is in advanced negotiations with new underwriting partners and will look to further accelerate new product development following Youi's announcement to focus on direct distribution in Australia from 1 July 2025.
Managing Director Colin Fagen said BZI would continue to focus on expanding its current product offerings and was targeting a seamless transfer to new capacity.
Mr Fagen said BZI's independent shareholders would also look to purchase Youi's shares in BZI and increase their stake in the business.
With Youi exiting, it gives us the independence to negotiate our capacity for either our full product range or specific product lines and align with underwriters who share the same focus and passion for servicing the intermediated distribution channel. This is an exciting stage in the evolution of BZI.
We will be announcing further details shortly and want to assure our broking partners that it is business as usual for BZI during this transition.
Current policies will not be impacted, and we will continue to distribute Youi backed product until 30th of June, after which time we will work closely to manage the run-off and our transition to new paper, to maintain our support for customers.
In 2024, Blue Zebra transacted over $300 million GWP including Cyber which is underwritten through Lloyd's. The company has tripled in size in the past five years, launched several new products including personal accident and sickness and farm onto its Blue Leopard platform and launched SME on the Steadfast client trading platform, SCTP.
Blue Zebra continues to consistently win industry awards and acclaim for innovation, speed and ease of service.
The team at BZI are grateful for the support from Youi during this transformational period of growth. We are confident that both businesses will continue to grow and evolve to suit our unique customer needs.
