What Nm Insurance does

NM Insurance Pty Ltd (ABN 34 100 633 038) is a specialist insurance underwriting agency headquartered in North Sydney, Australia, with regional offices in Melbourne, Brisbane, Sydney, Perth, Adelaide and Auckland, New Zealand. Founded in 2005 with the launch of Nautilus Marine Insurance, the group operates under binding and claims authority from Zurich Australian Insurance Limited (a relationship established in July 2020 after a transfer from AIG Australia Limited) and is a majority-owned subsidiary of Steadfast Group Ltd. NM Insurance holds AFSL 227186 and serves Australian and New Zealand customers with a portfolio of specialist insurance brands covering pleasurecraft and recreational marine (Nautilus Marine Insurance), commercial marine assets, cargo and hull (Proteus Marine Insurance), motorcycles (National Motorcycle Insurance, plus co-branded Kawasaki, Honda and Suzuki products), caravans and motorhomes (Australian Caravan Insurance, plus Let's Go, Jayco Platinum and CMCA Insurance products), and a commercial solutions suite spanning hull, cargo, marine trades liability, boat dealers, marine wharves, carriers, fire perils, and ship builders risk.

The company distributes through two complementary channels: a broker network of thousands of professional insurance advisers across Australia and New Zealand (accessed via an online broker hub with quote-and-bind capability), and direct-to-consumer channels via brand-specific websites with online quoting and 1300-number support. NM Insurance operates an online claims lodgement system supported by a national network of 1,000+ claims support partners (assessors, salvors and repairers). Marketing and distribution are anchored by industry sponsorships (notably Hamilton Island Race Week since 2022), OEM affinity partnerships (Jayco, Kawasaki, Honda, Suzuki, CMCA), content marketing through a news hub, and broker recognition programs. As at March 2026 the business reports over $530M in claims paid across ANZ, 40,000+ recreational vessels protected under Nautilus Marine alone, and 100+ staff. The company is currently conducting a pricing promise review and issuing refunds to affected Boat, Bike and Caravan policyholders for premium-calculation discrepancies between October 2015 and April 2023.

Name

Nm Insurance

Legal name

NM Insurance Pty Ltd

Website

https://nminsurance.com.au

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

11–50 employees

Short description

NM Insurance is a specialist Australian and New Zealand insurance underwriting agency operating 10+ co-branded products across marine, motorcycle and caravan verticals under binding authority from Zurich Australian Insurance Limited, distributed through broker networks, OEM partnerships, and direct channels.

Ownership category

akta.pro rank

Product category

Specialty Insurance Underwriting

NAICS

Direct Property and Casualty Insurance Carriers (524126), Other Insurance Related Activities (52429)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Yacht & Pleasure Craft Insurance (FSAJAHAI)

akta.pro secondary industries

Marine Specialty (Hull/P&I/Cargo) (FSAJAGAJ), Inland Marine Insurance (Transit, Equipment & Installation) (FSAJAHAB), Protection & Indemnity (P&I) / Marine Liability Insurance (FSAJAHAH), Marine & Aviation Insurance (FSAJAMAI), Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ)

Keywords

• Specialty insurance underwriting
• Marine insurance agency
• Motorcycle insurance products
• Caravan motorhome insurance
• Commercial marine coverage

Headquarters

HQ city

North Sydney

HQ country

Australia

HQ region

Oceania

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Insurance Premiums: NM Insurance operates as an underwriting agency that issues and administers insurance products under binding authority from Zurich Australian Insurance Limited. Revenue is generated through insurance premiums collected from policyholders across boat, motorcycle, caravan, and motorhome insurance products.
2. Claims Handling Services: As an underwriting agency with binding and claims authorities, NM Insurance handles and settles claims made under insurance policies, acting on behalf of the relevant insurer.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

NM Insurance is an underwriting agency that designs, distributes, and administers specialist insurance policies for lifestyle and commercial marine assets across Australia and New Zealand. Products cover pleasurecraft (boats, personal watercraft, yachts), commercial marine (hull, cargo, marine liability, marine trades, boat dealers, wharves, carriers, ship builders risk), motorcycles (on-road and off-road), caravans, and motorhomes, issued under binding authority from Zurich Australian Insurance Limited through a broker network and direct brand websites.

Product overview

NM Insurance is an underwriting agency operating across Australia and New Zealand that offers a comprehensive portfolio of specialist insurance brands under a platform-plus-modules architecture. The core platform encompasses four main sub-brands: Nautilus Marine Insurance (pleasurecraft and recreational boating), Proteus Marine Insurance (commercial marine assets), National Motorcycle Insurance (motorcycles), and Australian Caravan Insurance (caravans and motorhomes). These are supplemented by additional branded products including Let's Go Caravan Insurance, Jayco Platinum Caravan Insurance, Kawasaki Insurances, Honda Motorcycle Insurance, Suzuki Insurance, and CMCA Insurance. Commercial solutions modules include Commercial Hull, Cargo, Marine Trades Liability, Boat Dealers, Marine Wharves, Carriers, Fire Perils, and Ship Builders Risk insurance. Products are issued under binding authorities from Zurich Australian Insurance Limited (and previously AIG Australia Limited) with claims support across all brands.

Differentiator

Problem solved

Functional benefit

Brands

• Nautilus Marine Insurance: Market leading insurance for pleasurecraft and the industries that support and service recreational boating
• Proteus Marine Insurance
• National Motorcycle Insurance
• Australian Caravan Insurance
• Let's Go Caravan Insurance
• Jayco Platinum Caravan Insurance
• Kawasaki Insurances
• Honda Motorcycle Insurance
• Suzuki Insurance

Products and services

• Nautilus Marine Insurance Market-leading insurance for pleasurecraft and the industries that support recreational boating, covering boats, personal watercraft (jet skis), yachts, sailing dinghies, runabouts, cruisers, houseboats, trailer sailers and off-beach craft with 24/7 claims support, accidental loss/damage cover including fire, storm, lightning, and $10 million legal liability cover (including water skiers cover as standard).
• Proteus Marine Insurance Specialist commercial marine underwriting covering commercial hull, cargo, marine liability, marine trades liability, boat dealers, marine wharves, carriers, fire perils, and ship builders risk for commercial maritime businesses.
• National Motorcycle Insurance Comprehensive motorcycle insurance covering on-road (cruisers, tourers, scooters) and off-road (motocross, enduro, quad bikes, kids fun motorcycles, side-by-side vehicles) private use production bikes, including new-for-old replacement, riding gear cover (limits apply), and fire and theft options.
• Australian Caravan Insurance Comprehensive insurance for registered caravans, pop-tops, camper trailers, on-site caravans and motorhomes (Class A, B, C up to 15 years of age, max sum insured $350,000) with new-for-old replacement, automatic contents cover (limits apply), and optional annexe cover.
• Let's Go Caravan Insurance Insurance solutions protecting caravans and motorhomes, with online quote calculator and dedicated claims and customer service lines.
• Jayco Platinum Caravan Insurance Specialist caravan insurance tailored to suit the caravanning lifestyle, available through Jayco dealerships as a co-branded offering.
• Kawasaki Insurances Jet ski and motorcycle insurance solutions branded for Kawasaki products to protect personal watercraft and motorcycles.
• Honda Motorcycle Insurance Motorcycle insurance branded for Honda motorcycles, covering both on-road and off-road riding with online quote availability.
• Suzuki Insurance Motorcycle insurance branded for Suzuki motorcycles covering both on-road and off-road bikes, distributed via Suzuki Insurance quote portal.
• CMCA Insurance Specialised caravan and motorhome insurance for members of the Campervan & Motorhome Club of Australia, accessed via a dedicated brand website and CMCA contact channels.
• Commercial Hull Insurance Commercial vessel insurance providing physical damage cover for operators of commercial vessels including in-harbour, offshore energy support, tourism, and passenger charter vessels.
• Cargo Insurance Comprehensive multi-modal cargo coverage for importers, exporters, and local producers covering worldwide movements including non-containerised, bulk, and temperature-controlled cargoes.
• Marine Trades Liability Insurance Liability cover for boat and ship repairers, marina owners, boat dealers, boat builders and other businesses where boats are left in their care.
• Boat Dealers Insurance Comprehensive coverage for businesses primarily involved in boat retailing and yacht broking, covering stock owned or on consignment.
• Marine Wharves Insurance Specialised policy covering over-water structures including piles, jetties, pontoons, and marina facilities for berthing, storage, and service provision.
• Carriers Insurance Accidental damage cover for freight carriers including breakdown of refrigeration machinery, covering general freight, temperature-sensitive freight, and heavy haulage.
• Fire Perils Insurance Cover for physical assets and liabilities of boating industry businesses under a Business Package or Industrial Special Risks wording.
• Ship Builders Risk Insurance Material damage cover for vessel construction including builders of private watercraft, ship repairing activities, and marina operators.
• Motorhomes Insurance Comprehensive insurance for motorhomes covering registered vehicles up to 15 years of age with maximum sum insured of $350,000.

Quantifiable outcome

• Over $530M in claims paid across Australia and New Zealand
• +3 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

13 partnerships are on record, tiered flagship, core and minor.

• Hamilton IslandflagshipGTM or Marketing Partner · 1 January 2025Nautilus Marine Insurance has been a proud supporter of Hamilton Island Race Week since 2022. In 2025, the partnership celebrated two milestones: the 40th edition of the regatta and Nautilus Marine's 20 years of insurance support for boat owners. The partnership includes team activations, giveaways, and presence at the event.
• Marina Industries AssociationcoreStrategic or Co-development Partner · 1 January 2025NM Insurance engages with the Marina Industries Association to share industry insights on managing insurance and contractor risk in marine environments. The collaboration includes contributing articles to the MIA's Waterline magazine on topics such as access control and contractor management in marinas and shipyards.
• Gallagher (NZ)coreChannel Partner/ Reseller/ Distributor · 1 January 2025Commercial Broker Ryan Englund from Gallagher NZ won the 2025 NM Insurance Captain Award. Gallagher is recognized as a key broker partner delivering for mutual customers.
• Gallagher (NSW)coreChannel Partner/ Reseller/ Distributor · 1 January 2025National Head of Marine Mark Rudman from Gallagher NSW won the 2025 NM Insurance Captain Award. Gallagher is recognized as a key broker partner with strong partnership developed over years.
• MTF Finance AlbanyminorChannel Partner/ Reseller/ Distributor · 1 January 2025Owner Will Hay from MTF Finance Albany won the 2025 NM Insurance Captain Award. MTF Finance is recognized for specialist marine finance expertise and customer-focused approach.
• Oracle Group Insurance BrokersminorChannel Partner/ Reseller/ Distributor · 1 January 2025Authorised Representative Brendon Watson from Oracle Group Insurance Brokers QLD won the 2025 NM Insurance Captain Award. Recognized for industry knowledge and getting best outcomes for clients.
• White Bay 6 Marine ParkminorStrategic or Co-development PartnerWhite Bay 6 is a multi-award-winning marina facility featured in NM Insurance's industry insights on access control and security. General Manager Lorraine Yates contributed insights on security and safety practices in marine environments.
• d'Albora East Coast MarinaminorStrategic or Co-development Partnerd'Albora East Coast Marina referenced in NM Insurance's industry insights on marina access control and contractor management best practices.
• Suncoast Caravan ServiceminorStrategic or Co-development PartnerSuncoast Caravan Service is a family-owned repair partner that has served the Sunshine Coast and caravanning community for over 48 years. General Manager Adam Twist contributed expert seal maintenance advice for the Let Go Caravan Insurance knowledge hub.
• GSA Insurance BrokerscoreChannel Partner/ Reseller/ DistributorGSA Insurance Brokers is a key broker partner featured in case study about total loss claim handling for an 80ft luxury motor yacht. CEO James Telford and Senior Client Manager Natalie Fisher shared their positive claims experience with NM Insurance.
• The Anchorage MarinacoreChannel Partner/ Reseller/ DistributorThe Anchorage Marina in Williamstown, protected by Nautilus Marine Insurance, featured in case study about storm damage claims experience. Director Stephen O'Hare shared the positive after-claim experience.
• JaycoflagshipChannel Partner/ Reseller/ DistributorJayco is a partner brand offering Jayco Platinum Caravan Insurance through NM Insurance. Joint marketing through Jayco Platinum Caravan Insurance brand website with dedicated phone lines and claims/support contacts.
• CMCA InsurancecoreChannel Partner/ Reseller/ DistributorCMCA (Camper Motorhome Club of Australia) Insurance partnership offering specialized caravan and motorhome insurance to club members. Brand website at insurance.cmca.au with dedicated contact numbers.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Aon Australia: Global insurance broker and risk advisory firm with substantial Australian presence in commercial marine, cargo, and specialty lines. Competes indirectly for commercial broker relationships and risk advisory mandates.
• QBE Insurance Australia: Major Australian general insurer with marine and leisure asset offerings. Competes as a broad incumbent with direct carrier capability rather than through the underwriting agency model.
• Insurance Australia Group (IAG): Australia's largest general insurer and parent of Club Marine, offering direct marine, motorcycle, and caravan insurance at scale. Represents the broad incumbent competitive force in the same lifestyle asset categories.
• Hollard Insurance Australia: Large Australian general insurer and parent of multiple underwriting agency brands. Operates a similar multi-brand specialty strategy with binding authority partners, competing for broker relationships and niche product lines.
• Allianz Australia: Major Australian general insurer offering marine, motorcycle, and caravan products through direct and broker channels. A broad incumbent with overlapping product lines to NM Insurance's specialist brands.

Direct peers

• Honan Insurance Group: Australian specialist insurance broker and underwriting agency with comparable niche positioning across marine, lifestyle, and specialty asset classes. Competes directly with NM Insurance's broker-distributed specialist products.
• Club Marine Insurance: Australia's leading pleasurecraft and recreational boat insurance specialist, owned by Insurance Australia Group (IAG). Direct competitor to Nautilus Marine Insurance in the Australian recreational vessel market with similar coverage focus.
• Dual Australia: Specialty underwriting agency operating in Australia and New Zealand across liability, marine, and specialty lines. Comparable underwriting agency model with multi-carrier binding authority arrangements.
• Midas Insurance: Australian underwriting agency offering specialist insurance products including marine and lifestyle assets. Similar agency model with binding authority from major insurers and broker-distributed specialist products.

Others

• Steadfast Group Ltd: Parent company and majority shareholder of NM Insurance. Australia's largest general insurance broker network, providing contextual comparison for distribution scale and broker intermediation strategy.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/nm-insurance-pty-ltd

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Nm Insurance