Agile Syndicate 2427 commences underwriting

Agile Syndicate 2427 commences underwriting 150 150 Haggie Partners

Agile Underwriting Services (Agile) has received ‘Permission to Underwrite’ from Lloyd’s for its Agile Underwriting Services Syndicate 2427 (AUS 2427), the final regulatory approval required to commence its underwriting business.

Focused primarily on Australia and New Zealand and writing accident and health, aviation, casualty, construction, financial lines, and property business, the new syndicate will commence underwriting in May supporting Agile’s broker and MGA partners through traditional underwriting and with its digital distribution platform, Powered By Agile.

Agile’s existing business has a significant presence across the east coast of Australia with teams based in New South Wales, Victoria and Queensland. AUS 2427 takes advantage of this existing infrastructure with Agile’s underwriting team now representing AUS 2427 alongside its extensive panel of Lloyd’s syndicates and company insurers.

The Powered By Agile platform is designed to enable 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 is established under the ‘syndicate-in-a-box’ (SIAB) framework and is managed by Asta, the leading third-party managing agent at Lloyd’s.
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: “This important final step allows Agile to bring new capacity solutions to its partners, stabilising access in areas that have proven to be profitable across the cycle. Our digital distribution hugely improves the speed of access for simple risks, and by having our class of business leaders based locally, there is no overseas referral chain on complex risks. Our brokers already know the underwriting team and we enjoy deep relationships with our key partners – we look forward to bringing them the benefits of this new vehicle.”

Mark Hunt, active underwriter of Agile, added: “This is an historic time for Agile and we are extremely pleased with the permission to underwrite. Many months of planning and preparation at last come to fruition and we now intend to deliver on that proposition.”

Lorraine Harfitt, CEO of Asta, said: “Agile’s proposition combines multiple elements that are attractive to the Lloyd’s market – APAC, innovation and the SIAB model – and the business sits perfectly within Asta’s third-party management capabilities. With permission to underwrite now granted we look forward to working with the team and helping them to reach their full growth potential.”