StarStone, the global specialty insurer, has launched a casualty consortium targeted at the Australian and New Zealand markets. The consortium is led by StarStone’s Mark Hunt and has begun underwriting business.
StarStone’s Lloyd’s coverholder in Australia – StarStone Underwriting Australia Pty Ltd. – underwrites this facility on behalf of a consortium of Lloyd’s syndicates. StarStone supports the venture with a 20 percent lead line, with equal shares from its four Lloyd’s syndicate partners providing the remaining capacity.
The consortium will initially offer A $ 50 million ($ 36.3 million) and will focus on mid-market fugitive risks that are not usually listed in London. StarStone will also provide assertion support for the consortium through the established and professional requests network in Australia and New Zealand.
Robin Barham, general manager of StarStone Australia, said: “We have identified open market and broker claims for a solution that combines Lloyd’s expertise and local knowledge in Australia and New Zealand.
“StarStone builds on our presence in a hyperactive region and we can take advantage of Lloyd’s strengths in delivering exceptional customer service, as experts like Mark pointed out,” Barham added.
Accident hunter Mark Hunt in StarStone Australia said: “The consortium supports a truly tailored and customer-focused approach to the local market decision-making process and allows brokers and customers to process deals like those in the writing room at Lloyds. London. I believe that the collective expertise of those involved in this consortium will significantly enhance Lloyd’s local capabilities and profile within the accident area. ”
Hunt has over 34 years of experience in the insurance industry and began his career as a liability agent for Syndicate 386 in Lloyd’s in 1984. Since then, he has held senior positions at various trade unions at Lloyd’s. Following a successful career in Zurich, Hunt joined StarStone Australia in May 2018.
StarStone underlines the classes of property, specialization and accident risk arising from operations in London, Continental Europe, Australia and the United States with six fully owned insurance platforms, including Lloyd’s Syndicate 1301. StarStone is owned by Enstar Group Limited, which is managed by Stone Point Capital. LLC and Dowling Capital Partners I, LP
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