UAC member Agile Underwriting Services (Agile) this week announced that it has received the final regulatory permissions from Lloyd’s for its Agile Underwriting Services Syndicate 2427 (AUS 2427), which is now cleared to commence writing business.

Focused initially on Australia and New Zealand and writing accident and health, aviation, casualty, construction, financial lines, and property business, the new syndicate is designed to support Agile’s broker and MGA partners by providing long-term access to AA- (S+P) rated paper across 200 Lloyd’s licenced territories.

AUS 2427 takes advantage of the existing Agile infrastructure with the underwriting team now representing AUS 2427 alongside its extensive panel of Lloyd’s syndicates and company insurers.

Agile operates a mixed model of traditional underwriting and digital distribution via its proprietary “Powered By Agile” platform which enables brokers to grow a highly efficient digital business, and through it Agile’s broker network enjoys direct access to the capacity to place niche risks and automate the management of schemes and affinity business. The creation of AUS2427 extends this distribution advantage to third party MGAs and across Lloyd’s network of licensed territories.

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, CEO of Agile, said: “Our market has seen some of its best practitioners struggling to find capacity for growth and complex risk problems as capital providers have reshaped their books due to overseas results, and we aim to help fix some of these problems and support the market where we see niche profit opportunities.”

Mark Hunt, Active Underwriter of the Agile Syndicate, added: “Australia and New Zealand offers a particularly strong opportunity for Lloyd’s, and we are well placed to deliver the twin advantages of world-class security and efficient technology that will advantage our partners in the local market and assist them to deliver on their own growth plans and ambitions.”

Robin Barham and Mark Hunt will be at the Melbourne UAC Expo alongside your usual Agile contacts.