IAG Commercial Insurance has partnered with new Melbourne-based underwriting agency Pacific Indemnity Underwriting Solutions, which specialises in professional risk.

Pacific Indemnity, due to start operations next month, is led by former CGU national underwriting manager professional risks Jun Acance, who left that role in July.

Mr Acance, who was with CGU for more than 26 years, says the new agency is supported by a team of highly skilled and experienced underwriters.

“I’m very excited about this venture. The opportunity to bring innovative solutions and agility to respond to the needs of brokers and insureds will be our main focus in this business.”

Mr Acance told insuranceNEWS.com.au the agency currently employs four underwriters in Melbourne and Sydney, and aims to grow to 10 by the end of this financial year.

He says he left CGU to be “master of my own destiny” and to create a nimble new business.

“A number of intermediaries are seeking a different way of dealing with principals.”

Pacific Indemnity will offer more holistic underwriting and better systems, he says.

IAG says the partnership is “highly complementary” to its commercial agencies business.

EGM Agencies Phuong Ly says it is an exciting opportunity to work alongside Mr Acance, who is one of the industry’s most respected professional risk underwriters.

IAG Commercial Insurance says it will also continue working with broker partners and offering professional risk products through its CGU brand.

Mr Acance was replaced at CGU by Najibi Bisso, who was previously national commercial manager for professional risks.