International specialty insurance firm StarStone has launched a new casualty consortium targeted at the Australian and New Zealand markets, led by StarStone’s Casualty Underwriter, Mark Hunt.
StarStone Underwriting Australia Pty Limited, StarStone’s Lloyd’s coverholder in Australia, has already begun underwriting this facility on behalf of a consortium of Lloyd’s syndicates.
The company said it supports the venture with a 20% lead line, with equal shares from its four Lloyd’s Syndicate partners providing the remaining capacity.
The consortium will initially offer AUD $50 million (USD $36 million) capacity and focus on middle-market casualty risks not usually underwritten in London, with StarStone also providing claims support through its established claims network in Australia and New Zealand.
Robin Barham, Managing Director, StarStone Australia, said: “We have identified clear market and broker demand for a solution that combines Lloyd’s expertise and local knowledge in Australia and New Zealand.
“StarStone has been building our presence in the region for some time, and, with experts like Mark leading the way, we can harness the strengths of Lloyd’s to focus on providing exceptional client service.”
Mark Hunt also commented: “The consortium supports a truly tailored and client-centric approach to decision-making in the local market, allowing brokers and customers to transact deals as if they were in the Underwriting Room at Lloyds in London.
“I believe the collective expertise of those involved in this consortium will significantly increase the local capabilities and profile of Lloyd’s within the casualty space.”