Australian underwriting agency Mecon Insurance has opened for business in its founder’s home country of New Zealand.

CEO Glenn Ross, who established the company 14 years ago in Australia, says he always planned to move it into his home country.

Mecon already has offices in Sydney, Melbourne, Brisbane and Perth. The NZ business will initially operate out of Sydney with an Auckland office expected to open within 12 months.

Mr Ross says the business has the capability to work in the New Zealand market at “all risk levels”.

“With common risk profiles in construction globally, the business is relatively straightforward to implement in New Zealand,” he said.

Mecon offers cover for the construction industry, including a unique contractual liability policy for simple and complex projects.

Its move into New Zealand is backed by a partnership with AIG.

AIG CEO New Zealand Mike Raines says the insurer’s support of Mecon in the New Zealand market “will achieve several long-term goals for both companies”.