Dual Australia and Aviation & Marine Underwriting Agency (AMUA) in New Zealand are merging their marine operations to create a new business, Salt Marine Risks.

“We recognise that marine is a specialised segment of the insurance market and a dedicated brand will enable the unit to better develop and promote its products and services in the region,” Dual Australia CEO Damien Coates said.

Salt will continue as a Lloyd’s coverholder, with Andrew Black underwriting Australian business and AMUA underwriter Tim Wilkes maintaining his role in New Zealand.

“We intend to build on the current strengths of each brand and to broaden our offering on all marine risks by using our combined resources to develop our product lines,” AMUA New Zealand Executive Director Neil Kain said.

Dual entered the marine market in 2015, establishing a presence in Australia, New Zealand and the Pacific.

AMUA is a specialist Lloyd’s coverholder with more than 35 years in the New Zealand market.

The combined marine business starts trading tomorrow.