Lumley General Insurance and Miramar Underwriting Agency have dissolved their underwriting relationship.

The decision comes into effect on January 1. From that date, Miramar underwriting support will be provided at Lloyd’s.

Lumley CEO David Matcham says the termination was a mutual decision prompted by changing dynamics at both businesses. “We are proud of our relationship with Miramar and the support we provided in establishing them in the insurance market,” he said.

Miramar Chairman Alan May says the relationship became complicated. “Increasing market challenges have created difficulties and complications for both our organisations in the delivery of insurance products through our respective distribution networks.”