Wotton + Kearney (W+K) has expanded its financial lines capabilities with the addition of Jacques Jacobs and his six-person team to its Sydney office.
Australia’s financial lines insurance sector has seen significant evolution over the past several years, driven by regulatory reforms, an uptick in litigation, and market capacity changes.
According to Robert Barnum, an underwriter for professional lines at Canopius Group, the SME segment is experiencing particular growth, with strong demand from industries such as IT, consulting, engineering, and accounting.
Barnum pointed to regulatory changes as a key driver of market dynamics.
“Australia has seen an increase in litigation compared to other parts of Asia Pacific, which is one reason it is important to build local underwriting strategies in each market,” he told Insurance Business early this year.
He also highlighted the challenges posed by emerging technologies, particularly in managing cyber risks.
Jacobs (pictured), a specialist in warranty and indemnity insurance and other key areas, joins the firm from Clyde & Co.
His expertise extends across professional indemnity, financial institutions, directors and officers (D&O) liability, cyber risks, and environmental, social, and governance (ESG) issues, including climate-related exposures and greenwashing risks.
Jacobs brings extensive experience in insurance and litigation, including representing insurers and their clients in multi-party disputes, regulatory matters, and disciplinary hearings.
Jacobs began his career at W+K in 2003 and has since held positions at DLA Piper, Norton Rose Fulbright, and Clyde & Co.
“The firm’s commitment to growth and innovation aligns perfectly with our expertise and ambitions. We look forward to contributing to the firm’s continued success,” he said on his return to W+K..
Jacobs is joined by a team comprising:
Andrew Moore, W+K’s head of financial lines, said that Jacobs’ background aligns well with the firm’s objectives.
“Jacques and his team are a fantastic fit for Wotton Kearney. His expertise in ESG and other emerging risks will be a huge asset to our clients and our growing team,” he said.
See LinkedIn post here.
The team’s addition follows a period of strategic growth for W+K, including a rebrand in late 2023, the launch of a legal AI tool earlier this year, and the opening of its first Asian office.
Since its inception in 2002, W+K has expanded to 86 partners and over 700 team members operating in Australia, New Zealand, and Singapore.
