A new underwriting agency, equally owned by
Steadfast and London-based specialty underwriter Advent Capital, has officially launched.
The new business, called Blend Insurance Solutions, has signed a deal with
Beazley to secure renewal rights to their local accident and health portfolio in Australia.
Blend will be led by Chris Newing, who joined the start-up as CEO in February. He will be joined by Suzanne White, former head of accident and health at Beazley, as general manager, distribution (coverholders and brokers) in the new business.
Blend business will be placed at Lloyd’s via Advent Capital, which has been trading for more than 40 years and is part of Fairfax Financial Holdings.
“Blend is well positioned to deliver solutions satisfying these needs, with an initial focus on ensuring the smooth transition of the Beazley portfolio with our distribution partners,” Newing said.
Newing previously spent more than a decade at
Chubb and was most recently consumer manager for Australia and New Zealand.
In her new role, White will be responsible for managing relationships with coverholders and brokers.
Newing noted that whilst the business is well positioned to make an immediate impact in the market, thanks to the deal with Beazley, the firm will look to further develop and grow its offering.
“Our immediate priority is taking care of Beazley customers but we also see a great opportunity to evolve the industry and take a lead from other industries, with developments such as personalised products and optimised programs for distribution partners.”
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