Allianz Australia has launched a new specialist marine underwriting agency called Allianz Marine & Transit (AM&T).

The new division will manage the underwriting, claims and business development for non-pleasurecraft marine in both Australia and New Zealand.

The insurer says AM&T will complement Allianz’s pleasurecraft-focused business Club Marine and will use the existing Allianz marine staff in Sydney.

Former Associated Marine Insurers MD Stephen Ford will run the new Allianz division. Mr Ford left the Zurich-owned business last year.

Allianz Chief GM Broker & Agency Jonathan Poole says the marine market is best served by specialist agency structures.

“I am confident the team led by Mr Ford will develop a market leading business based upon deep industry knowledge, backed by an outstanding service and claims proposition for our brokers and customers,” he said.