Sydney-based Calliden Group has taken a 50% stake in new niche agency Sports Underwriting Australia. It already underwrites all the business of the Melbourne-based underwriting agency.

Sports Underwriting Australia started writing business in August. It specialises in sporting clubs, groups, associations and sports-related businesses including fitness centres, squash centre, golf clubs and driving ranges.

Calliden Group Marketing Director Mike Hooton says the increased shareholding demonstrates Calliden’s commitment to the sports insurance market.

“The investment… demonstrates our support and commitment to this new venture, and the sports insurance market, providing a genuine alternative for Australian insurance brokers,” he said.