Lloyd’s syndicate Argenta has established an Australian presence before it enters a co-tenancy “hub” arrangement with Lloyd’s, Talbot Underwriting and Ironshore in April.

Argenta Underwriting Australia – a branch of Argenta Holdings’ Singapore-based subsidiary Argenta Underwriting Asia – is headed by Tim Higgins.

He is a property specialist and experienced CEO. He was previously GM of Mobius Underwriting Australasia, the commercial property insurance business of Lloyd’s Australian coverholder SLE Holdings. He is also a former director of operations at property underwriter Affiliated FM.

Argenta Australia will initially specialise in property, but Mr Higgins has flagged moves into marine insurance, marine and energy liability, utility infrastructure risk, terrorism risk, personal accident and “niche-type opportunities”.

His aim is to have six employees by the time the hub takes over an entire floor of the landmark 1 O’Connell Street tower in Sydney on April 1.

Argenta Australia is currently occupying temporary space in the building.

The operation will also be responsible for New Zealand and Pacific markets. Further expansion of the Australian business may come from acquisitions.

“We’ll be looking for opportunities – it could be the acquisition of managing general agents or teams of people,” Mr Higgins told insuranceNEWS.com.au.

“If I see something in the marketplace that presents an opportunity, we’ll definitely be interested in building the business that way.”

He says there are no plans to establish offices in other Australian cities.

“The focus is on being part of Lloyd’s Sydney platform,” he said.

Argenta Holdings CEO Andrew Annandale says the Sydney branch “will allow us to… expand our client base in the region by offering local access to the full range of products available from Argenta’s Lloyd’s Syndicate 2121”.