StarStone closes Australia office in repositioning move; appoints Agile as agent
Lloyd’s underwriter StarStone is closing its Australia office following a "strategic review" and has appointed Agile Underwriting as a representative agent for the global specialty insurer in Australia and New Zealand.
The appointment will see Agile represent StarStone across the full range of specialty classes provided by Syndicate 1301.
The move is a part of StarStone's strategy to reposition its operations. It follows the sale of company's Dubai-based MGA Malakite Underwriting Partners and Zurich-based airlines portfolio last month. Earlier in September 2018, StarStone's parent Enstar Group dropped its plans to pursue the sale of its active underwriting businesses, which includes Atrium and StarStone.
Agile is an insuretech-driven underwriting agency with operations in Sydney, Melbourne, Brisbane and Christchurch, New Zealand. The company underwrites accident and health, aviation, cargo, cyber, financial lines, marine hull and marine liability as a Lloyd’s coverholder.
Agile has been a strategic partner since StarStone launched its Australian underwriting capability in 2016.
David Message, StarStone’s Group CUO, said: “As StarStone continues its strategy to reposition its operations, we are looking to develop long-term partnerships in key geographies to enhance our global reach. The underwriting team at Agile already has close relationships with our international underwriting teams and is well-placed to assist us in developing our client proposition in the region.”
Robin Barham, who has served as StarStone Australia’s managing director since its establishment, is also the founder and CEO of Agile. Barham will remain at Agile’s helm, responsible for developing new business activity under a new facility managed by Agile, which will allow continued access to StarStone’s underwriting expertise, following the closure of the StarStone Australia office in Sydney.
“StarStone’s retention of Agile highlights the ongoing benefits for both businesses and our customers of our existing relationship," Barham said. "The partnership will ensure customers retain access to StarStone’s capacity and expertise, StarStone will gain more efficient access to Australian customers, while Agile will continue to benefit from working with a global insurer.”
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