Monaco insurer of luxury assets opens Fort Lauderdale outpost

March 06--Monaco-based insurance broker Suisscourtage Group, which caters to affluent customers who need financial protection for yachts, jets and other luxury assets, has set up shop in Fort Lauderdale in its first crack at the U.S. market.

The company's office at 777 S.E. 20 St. will offer the company's exclusive line of insurance brands -- ONLYYACHT, ONLYYARD and ONLYJET.

In business for more than 25 years, Suisscourtage maintains offices in major global yachting, aviation and wealth hubs, including Antibes, London, Luxembourg and Rotterdam.

The insurance provider is the latest international firm to be wooed by Fort Lauderdale's growing appeal to affluent customers. The city's reputation as "The Yachting Capital of the World" and host of the world's largest in-water boat show, as well as its growing international airport and seaport, also make the area an attractive place to do business.

ONLYYACHT offers super yacht and crew insurance protection including loss or damage, liability protection, crew and guest welfare and claim services. The division insures 370 yachts and more than 3,000 crew members and protects more than $6 billion of assets, the company said.

The firm's ONLYYARD line covers shipyards and owners against risk of physical damage to super yachts under construction. ONLYJET insures private aircraft for damage to hull, liability to third parties and injury to crew and passengers.

"As an independent Lloyd's broker, we have direct access to the world's largest insurance market which gives us the opportunity to place and renew our client's policies at constantly improving terms and rates," said Vincent Huens de Brouwer, executive director of ONLYYACHT US, in a statement.

Business activity since its opening has shown there's a "need being filled in the market," Brouwer noted.

Suisscourtage is a subsidiary of Pastor Group of Monaco, whose portfolio consists of construction, real estate, restaurant and insurance companies.

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