Insurer and reinsurer Allied World has opened a Sydney branch to enhance its growth in the Asia-Pacific region.

Executive VP Bill Cotter told insuranceNEWS.com.au the move demonstrates a commitment to the region.

“First and foremost Australia is a very important market, an important part of the Asia-Pacific region, and as part of our long-term strategy we felt it was important to be close to our partners and customers,” he said.

“The first priority is speaking to people, letting them know we are here and talking to brokers about our strategies to provide innovative solutions.”

Mr Cotter says the company will not “try to be all things to all people” but will focus on areas where it sees opportunities, including healthcare liability, professional liability, specialty casualty products, trade credit and political risk.

The branch is licensed and operational and will soon start recruiting staff.

President International Insurance Frank D’Orazio says Allied World succeeded in Hong Kong and Singapore by offering “exemplary service and innovative risk solutions”.

“We expect our new Sydney branch will allow us to continue to advance that momentum in Australia,” he said.