For the first time, a Lloyd’s of London underwriting syndicate is based in Australia.
“The syndicate is Agile Underwriting Services Syndicate 2427, which makes the initials of the syndicate AUS 2427, which is a nice thing for an Australian based syndicate,” said CEO Robin Barham (pictured above). “We're the only syndicate where all of the underwriting team are based in Australia.”
An Agile media release shared with Insurance Business said the firm has passed the final regulatory hurdle and can start underwriting.
“This is an historic time for Agile and we are extremely pleased with the permission to underwrite,” said lead underwriter Mark Hunt. “Many months of planning and preparation at last come to fruition and we now intend to deliver on that proposition.”
Barham said this important final step allows Agile to bring new capacity solutions to partners.
“Our brokers already know the underwriting team and we enjoy deep relationships with our key partners – we look forward to bringing them the benefits of this new vehicle,” he said.
Agile was founded in 2015 and underwrite retail and commercial insurance classes in the Australian and Pacific region.
According to the release, AUS 2427 anticipates writing £34.1 (AUS$65.8) million of gross written premium (GWP) for the 2024 year.
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