Agile Underwriting Services 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.
The new syndicate will reportedly commence underwriting in May, supporting Agile’s broker and MGA partners through traditional underwriting and with its digital distribution platform.
As per Agile, 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 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.
Robin Barham, CEO of Agile, commented, “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.
“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.”
Mark Hunt, active underwriter of Agile, added, “This is an historic time for Agile and we are extremely pleased with the permission to underwrite. Many months of planning and preparation at last come to fruition and we now intend to deliver on that proposition.”
Lorraine Harfitt, CEO of Asta, said, “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.
“With permission to underwrite now granted we look forward to working with the team and helping them to reach their full growth potential.”
