The Advisernet Group has restructured its underwriting agency operations to bring the businesses under one brand to be managed by former Chubb Australia executive Paul Baldacchino.

The new division, to be called Mint Underwriting, will “maximise the agencies’ buying power and efficiencies and ensure they offer the very best value products, wordings and services available”, Advisernet founder and Chairman Ian Carr told insuranceNEWS.com.au today.
 
“We looked at the number of agencies we have, and decided it would be logical to bring them under one banner. It means we will have one database, for example, and one common face into Lloyd’s, rather than each agency doing its own thing.”

The businesses to be united under the Mint Underwriting brand are Trinity Pacific (Lloyd’s property, liability and motor), All-Trans (transport and civil contractors), iaAgency (property and catastrophe excess buydown), Bcoz (industry property and liability facilities), Indemnity Solutions (industry PI facilities), MintMGA and all other Advisernet US and Lloyd’s facilities.
 
Mr Baldacchino, who joined Advisernet from Chubb in June to set up the group’s move into the US market, has been appointed the MD of Mint Underwriting. He will now oversee Advisernet’s underwriting businesses in Australia, New Zealand, the US and UK.

The new company will be chaired by John Skidmore, who recently sold his equity in Adroit Insurance Group but retained the Bcoz agency.

Trinity Pacific MD Denis Gibbes has resigned from that position. Mr Carr says Mr Gibbes “has decided to ease back and work on a part-time basis from January 31”.

Mr Carr says he is confident Mint Underwriting will offer “the perfect solution” to its various distribution partners in the future.

It already has existing premium revenue of more than $40 million and is expected to reach $100 million in the next five years.

The Advisernet Group is 50% owned by Austbrokers, and transacts more than $400 million of premium in Australia and New Zealand.