Prestige home insurer Mansions of Australia has ended a 15-year relationship with Lloyd’s, switching to Ace Insurance as the carrier for its home and contents policies.

Mike Hooton, Group Executive Agency Services for Mansions’ owner Calliden, says the company wants to work with a local carrier that can help grow the business.

“Ace provides highly rated paper to our intermediaries and their customers, a local presence and access to Ace’s global capabilities and expertise in prestige insurance products,” he told insuranceNEWS.com.au.

“We have not made this change for short-term financial gain. Rather, this is part of our long-term plan to develop Mansions’ business.”

Mr Hooton thanked Lloyd’s, and syndicate RJ Kiln in particular, for past support.

“As you would expect, they were disappointed, having supported Mansions for a number of years. It was a very difficult decision for us but… we made it in the best long-term interests of Mansions and our intermediary customers.”

The new arrangement is effective from January 1. The Mansions service team and procedures will remain unchanged.