Calliden Group has reversed its decision to exit the Victorian domestic builders’ warranty insurance (BWI) market.

The insurer will now be one of only two insurers in the Victorian BWI market, and will compete with QBE, which is underwritten by the Victorian Managed Insurance Authority.

Following the release of the Victorian Government’s new underwritten scheme last June Calliden announced it would undertake a staged withdrawal to be finalised by March 31 this year.

But Group Executive Marketing and Distribution Mike Hooton says the company decided last month to stay in the market after discussions with government bodies and industry representatives.

“The market has been stable and there is continued demand for an alternative, and as a result Calliden confirms its intention to continue as a provider of domestic builders’ warranty insurance in Victoria,” he said.