Boss buys underwriting agencies
Former Stardex Insurance Group-owned underwriting agencies SLE Worldwide Australia and Pacific Underwriting Corporation have been bought by SLE MD Brad French.
Sports and entertainment specialist SLE Worldwide is one of Australia’s largest Lloyd’s coverholders, while Pacific is a specialist in high-hazard manufacturing risks.
Mr French, who has served as MD of SLE Worldwide for more than 12 years, says the two companies are growing market share in a difficult market.
“It’s a bit of a leap of faith, although SLE Worldwide has proven to be a strong business,” he told insuranceNEWS.com.au. “We think that despite the economic downturn there’s still opportunities for niche underwriters within the property and casualty space and we see more opportunities moving forward.”
SLE Worldwide has added a range of new covers as a result of the restructure, including public and product liability, professional liability, directors’ and officers’ and associations liability and property and industrial special risks lines.
The sale of the Stardex units follows the earlier sale of professional risks underwriting agency Dexta Corporation to Axis Specialty Europe in December.
Sports and entertainment specialist SLE Worldwide is one of Australia’s largest Lloyd’s coverholders, while Pacific is a specialist in high-hazard manufacturing risks.
Mr French, who has served as MD of SLE Worldwide for more than 12 years, says the two companies are growing market share in a difficult market.
“It’s a bit of a leap of faith, although SLE Worldwide has proven to be a strong business,” he told insuranceNEWS.com.au. “We think that despite the economic downturn there’s still opportunities for niche underwriters within the property and casualty space and we see more opportunities moving forward.”
SLE Worldwide has added a range of new covers as a result of the restructure, including public and product liability, professional liability, directors’ and officers’ and associations liability and property and industrial special risks lines.
The sale of the Stardex units follows the earlier sale of professional risks underwriting agency Dexta Corporation to Axis Specialty Europe in December.