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Global specialty insurer StarStone has launched a new casualty consortium for the Australian and New Zealand markets, with the aim of “significantly increasing the local capabilities and profile of [Lloyd’s of London] within the casualty space”.
StarStone Underwriting Australia Pty Limited – the insurer’s Lloyd’s coverholder in Australia – will underwrite the new facility on behalf of a consortium of Lloyd’s syndicates. The consortium is being led by Mark Hunt, casualty underwriter at StarStone Australia.
“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,” Hunt commented. “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.”
StarStone is supporting the consortium with a 20% lead line, and equal shares from its four Lloyd’s Syndicate partners will provide the remaining capacity. It will initially offer AU$50 million capacity and focus on middle-market casualty risks not usually underwritten in London. Claims support will be provided through StarStone’s established claims network in Australia and New Zealand.
“We have identified clear market and broker demand for a solution that combines Lloyd’s expertise and local knowledge in Australia and New Zealand,” said Robin Barham, managing director, StarStone Australia. “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.”
