Austbrokers Holdings underwriting agencies division Austagencies has acquired professional indemnity (PI) specialist Tasman Underwriting, formerly part of the Australis group.

Tasman Chief Underwriter Roy Daly has joined underwriter Paula Vivaris in a management buyout of the business from Arthur J Gallagher-owned Australis Group, in conjunction with Austagencies.

The agency will continue to underwrite PI insurance under the same Lloyd’s binder it established in 2001, while the business has relocated to Austagencies’ North Sydney premises.

“The Austbrokers model allowing principals to have a stake in the business appealed to me,” Mr Daly told insuranceNEWS.com.au. “We’ve made a name for ourselves over eight years, and this essentially will be business as usual.”