New Lloyd’s syndicate Blend launches in Australia following Beazley deal
Blend Insurance Solutions, a new Sydney-based Lloyd’s underwriting agency, has officially launched into the Australian market after securing an accident and health renewal rights deal with Beazley Underwriting.
Blend has secured the renewal rights to Beazley’s local portfolio giving the start-up an immediate presence in Australia and New Zealand and enabling accelerated growth of the business, the company said.
The business will be led by CEO Chris Newing, who joined the start-up in February after more than a decade with Chubb (formerly ACE) in various senior management roles across the Asia Pacific region, most recently consumer manager, Australia and New Zealand.
"I am very excited about launching Blend at a time when customers and distribution partners’ expectations from their insurance providers are rapidly evolving," Newing said. "Blend is well positioned to deliver solutions satisfying these needs, with an initial focus on ensuring the smooth transition of the Beazley portfolio with our distribution partners."
In addition, the former Beazley head of Australian accident and health, Suzanne White has joined Blend to take on the role of general manager, distribution. She will be responsible for managing relationships and working closing with coverholders and a significant number of broker groups.
Newing commented: "We are thrilled Suzanne has joined Blend. She is completely focussed on delivering exemplary service and will play an important role in our growth."
The business will be placed at Lloyd's via specialty insurer Advent Capital Syndicate 780, which is a part of Fairfax Financial Holdings, a global player in specialty accident and health business.
"Our immediate priority is taking care of Beazley customers but we also see a great opportunity to evolve the industry and take a lead from other industries with developments such as personalised products and optimised programs for distribution partners," Newing added.
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