Agile has received ‘Permission to Underwrite’ from Lloyd’s for its Agile Underwriting Services Syndicate 2427 (AUS 2427), the final regulatory approval required to commence its underwriting business.
AUS 2427 will be primarily focussed on Australia and New Zealand and writing accident and health, aviation, casualty, construction, financial lines, and property business.
The new syndicate will commence underwriting in May, supporting Agile’s broker and MGA partners through traditional underwriting and with its digital distribution platform.
The firm also noted that it has a significant presence across the east coast of Australia with teams based in New South Wales, Victoria and Queensland and that AUS 2427 will take advantage of this existing infrastructure.
AUS 2427 is established under the ‘syndicate-in-a-box’ (SIAB) framework and is managed by Asta, the leading third-party managing agent at Lloyd’s.
This important final step allows Agile to bring new capacity solutions to its partners, stabilising access in areas that have proven to be profitable across the cycle
Robin Barham, CEO of Agile
“Our digital distribution hugely improves the speed of access for simple risks, and by having our class of business leaders based locally, there is no overseas referral chain on complex risks. 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”, Robin Barham commented.
Agile’s proposition combines multiple elements that are attractive to the Lloyd’s market – APAC, innovation and the SIAB model – and the business sits perfectly within Asta’s third-party management capabilities
Lorraine Harfitt, CEO of Asta
“With permission to underwrite now granted we look forward to working with the team and helping them to reach their full growth potential”, Lorraine Harfitt said.
Agile Underwriting Services, established in August 2015, operates as an underwriting agency and Lloyd’s Coverholder in Sydney, Australia.
The company focuses on innovative insurance solutions, leveraging advanced technology to offer a diverse portfolio of products.
These include Accident & Health, Aerospace and Aviation, Cyber and Emerging Risks, Financial Lines, Casualty, and Retail Travel insurance, all supported by Lloyd’s of London underwriters.
Agile is committed to providing products backed by robust security and high-quality service, maintaining transparency in its partnerships with insurers.
The leadership team at Agile draws on extensive experience across the insurance and reinsurance markets to drive the company’s strategic goals.
by Yana Keller
