Lion Underwriting, an Australia-based underwriting agency, is expanding its leadership team as it looks to enter a new phase of growth.
The company, which has operated since 2015, has appointed Jarrod O’Brien (pictured left) and Nathan Hepple (pictured right) as non-executive directors.
The appointments bring the company’s board to three members, including founder and managing director Kurt Nilsen.
O’Brien and Hepple bring more than 25 years of industry experience to the board.
In 2008, O’Brien founded Ausure Macarthur, a brokerage that specialised in small and medium-sized businesses and niche high-risk clients. He sold the firm in 2022.
Commenting on his new role, O’Brien – who has worked across banking, finance, and general insurance – emphasised the current challenges underwriters face due to climate-related risks.
“The increased frequency of natural disasters, from bushfires to floods, is putting pressure on insurers to re-evaluate risk models and adjust premiums accordingly,” he said, highlighting the importance of having real-time data to help balance risk and pricing.
O’Brien is familiar with Lion Underwriting from his previous role as a broker.
“As a broker, I often turned to Lion for my high-risk clients, particularly those who had challenging claims histories or operated in more hazardous industries because Lion’s ability to source terms, from markets that other agencies couldn’t, was impressive,” he said.
Hepple, a co-founder of HBA Legal and Paratus Claims, brings his legal background in claims and litigation to the board.
Commenting on his new leadership role, Hepple praised Lion Underwriting’s focus on client service, noting that feedback from brokers and clients had been consistently positive.
“The feedback from Lion’s broker partners and clients is consistently positive, which is a testament to the team’s professionalism, and it is a privilege to collaborate with them,” he said.
Welcoming the new board members, Nilsen explained that having different perspectives on the board will be critical as the firm develops new products that reflect the changing needs of the market.
Although details of the new product offerings have yet to be disclosed, Nilsen suggested that the company will increase its focus on property risks and expand its capabilities in professional lines.
“Property is a key area of focus for us, and we also foresee quite an expansion in terms of what we can offer when it comes to professional lines,” he said.
In addition, Lion Underwriting has promoted Adam Thackeray to head of property and brought in Bec Gottstein as head of casualty.
Thackeray, who has over 20 years of experience in property underwriting, previously worked with major insurers and underwriting agencies, including Allianz Australia, where he was the state underwriting manager for New South Wales and the Australian Capital Territory.
Meanwhile, Gottstein has spent more than 15 years with Allianz in various underwriting roles.
Nilsen explained that the appointments are part of a broader strategic shift aimed at growing the company’s market presence.
“We have built a very successful operation over the past nine years, supporting licensed general insurance brokers within national cluster groups, smaller associations, authorised representatives, and others, and we are now gearing up to expand and enter a new phase of growth,” he said.
Lion Underwriting’s growth strategy aligns with broader trends in the global insurance market, where managing general agents (MGAs) are playing an increasingly significant role.
A recent report from Global Insurance Law Connect highlighted the importance of MGAs in driving innovation and helping insurers address emerging risks, particularly in niche markets.
In Australia, MGAs – referred to locally as underwriting agencies – are becoming critical players in niche markets, providing coverage for difficult risks such as professional indemnity and public liability. Many MGAs also assist industry bodies in setting up discretionary mutuals, which allow organisations to self-insure part of their risks while transferring higher layers to traditional insurers.
MGAs are also seen as innovators in insurance, particularly in responding to risks related to climate change and natural disasters. Their ability to offer new products and manage emerging risks has made them a growing part of the insurance ecosystem, both in Australia and internationally.
