Underwriting agency AFA Insurance has switched underwriters from Lloyd’s and Hollard to Allianz Australia.

AFA, which maintains a diversified portfolio including accident and health, public liability and voluntary workers cover, says it will transfer all its risks to Allianz on July 1.

It’s understood Allianz has been seeking suitable underwriting opportunities since it lost the Accident & Health International business to CGU in 2012.

AFA Chairman Ross Porter told insuranceNEWS.com.au the move will “dramatically simplify” his company’s procedures. “Since we started operating as an underwriting agency in 2002 with two underwriters we’ve had to manage two audits and two bordereaux.

“We’ve also found over time that a lot of our Lloyd’s connections compete with us. They are also out of our time zone. But this move isn’t about being unhappy with anyone.”

Cutting ties with Hollard has been particularly painful, he says. “Hollard has been a great company to work with. But this move is really good for AFA.”