Agile Underwriting Services, an insurtech company and managing general agent (MGA) based in Sydney, Australia, has announced the launch of a new unit in New Zealand.
The move is expected to enhance the company’s ability to service New Zealand business across various lines including general aviation, accident and health, casualty and professional lines.
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Called Agile Insurance Group NZ, Agile claims that the new unit strengthens its position in Lloyd’s business within the Pacific region and sets the stage for further geographic expansion.
Agile CEO Robin Barham said: “The establishment of our presence in New Zealand is a significant advance in the development of Agile’s capability and market offering. The strength of our Pacific presence combined with our innovative IT platforms demonstrate a continuation of our drive to expand our offerings and support our New Zealand customers.”
Agile head of underwriting Mark Hunt said: “We see the New Zealand market as a critical element in our development, and this ground-breaking initiative offers brokers new capacity options and access to Agile’s adaptive solutions that reflect the region’s unique demands.”
This New Zealand venture follows the recent launch of Agile Underwriting Services Syndicate AUS 2427, a Lloyd’s syndicate created under the “syndicate-in-a-box” (SIAB) framework.
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By GlobalDataManaged by Asta, the syndicate is projected to write £34.1m (A$66.05m) in gross written premium for the 2024 year of account, with expectations to increase to £62.1m by 2026.
The key growth areas identified for the syndicate include liability, professional indemnity, accident and health, property and travel.
Agile plans to utilise its market position as an MGA to tap into niche and SME (small and medium-sized enterprises) business within the domestic Asia-Pacific market, subsequently bringing this business to Lloyd’s.
The company aims to align the new syndicate with its existing binders while continuing to foster relationships with market leaders and leveraging local expertise and technology-driven distribution.
