Australian MGA Agile gets approval to begin underwriting from Lloyd’s

Australian managing general agent (MGA) Agile Underwriting Services has received approval to underwrite from Lloyd’s through the official launch of its Agile Syndicate 2427 (AUS 2427) under the ‘syndicate-in-a-box’ (SIAB) framework.

AUS 2427 will commence underwriting in May and is managed by Asta through its third-party managing agent at Lloyd’s. 

The syndicate is focused primarily on Australia and New Zealand and writing accident and health, aviation, casualty, construction, financial lines, and property business.

Agile’s existing business has a significant presence across the east coast of Australia with teams based in New South Wales, Victoria and Queensland. 

Agile said AUS 2427 will leverage its existing infrastructure to expand its distribution to third party MGAs and across Lloyd’s network of licensed territories. Agile’s broker network is offered direct access to the capacity to place niche risks and automate the management of schemes and affinity business through the platform. 

Agile’s existing business has a presence across the east coast of Australia with teams based in New South Wales, Victoria and Queensland. AUS 2427 aims to use this existing infrastructure with Agile’s underwriting team representing AUS 2427 alongside its panel of Lloyd’s syndicates and company insurers.

AUS 2427 benefits from the Lloyd’s chain of security and Lloyd’s ratings, being, AA- (S+P), A (Excellent) positive outlook with A.M.Best, AA- (Very Strong) with Fitch Ratings, and AA- (Strong) with stable outlook with Kroll Bond Rating Agency (KBRA).

Robin Barham, chief executive officer (CEO) of Agile, said: “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.”

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