StarStone launches Lloyd’s-backed Australian casualty consortium
Specialty insurer StarStone has launched a new casualty consortium targeted at the Australian and New Zealand markets.
The consortium is led by Mark Hunt and has begun underwriting effective immediately.
StarStone’s Lloyd’s coverholder in Australia (StarStone Underwriting Australia) underwrites this facility on behalf of a consortium of Lloyd’s syndicates. StarStone supports the venture with a 20 per cent lead line, with equal shares from its four Lloyd’s syndicate partners providing the remaining capacity.
The consortium will initially offer A$50 million capacity and focus on middle-market casualty risks not usually underwritten in London. StarStone will also provide claims support for the consortium through its claims network in Australia and New Zealand.
“We have identified clear market and broker demand for a solution that combines Lloyd’s expertise and local knowledge in Australia and New Zealand,” said Robin Barham, managing director, StarStone Australia. “StarStone has been building our presence in the region for some time, and, with experts like Mark leading the way, we can harness the strengths of Lloyd’s to focus on providing exceptional client service.”
Mark Hunt, casualty underwriter at StarStone Australia, added: “The consortium supports a truly tailored and client-centric approach to decision-making in the local market, allowing brokers and customers to transact deals as if they were in the underwriting room at Lloyds in London. I believe the collective expertise of those involved in this consortium will significantly increase the local capabilities and profile of Lloyd’s within the casualty space.”
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