ELEMENT to take over mailo’s book of business

German digital risk carrier ELEMENT is planning to take over the book of business of mailo , a digital commercial insurer launched in 2017 – subject to the approval of the German Federal Financial Supervisory Authority (Bafin).

Further, as of August 15, ELEMENT will be underwriting mailo’s new business.

“As part of this strategic partnership, we combine the strengths of mailo and ELEMENT for even more performance and service in commercial insurance. The takeover of the mailo portfolio shows once again the high efficiency, speed and expertise of ELEMENT in providing a wide variety of insurance products.” – dr Christian Macht, Co-CEO of ELEMENT.

Finally, BaFin has approved ELEMENT for three other lines of business within the scope of the P&C insurance. This means that ELEMENT can also cover risks in the areas of shipping and financial losses.