A former Associated Marine MD has been appointed to lead a new marine underwriting agency that will focus primarily on the large corporate sector.

Munich Re subsidiary Great Lakes Australia has established Great Lakes Marine Insurance Agency to begin writing business around the middle of the year, subject to the approval process.

Adrian Norman – who left Zurich-owned Associated Marine in 2008 after four years in the position – leads the new business as MD.

Other former Associated Marine executives joining him are new GM Underwriting Andrew Black, GM Marine Special Risks Anton Edwards and GM Claims Willum Richards.

The company will operate out of Sydney and Christchurch with Mr Richards in charge of the NZ office.

Mr Norman says the new venture aims to assist local clients with increasingly complex trade and transport risks.

“There’s quite a gap in the market at the moment, and I think some specialist skills have fallen through the cracks,” he told insuranceNEWS.com.au.

“One of the things we are looking to do is repatriate business that has gone offshore. That’s a concern of ours – that expertise is lost and you end up with everything written in London.”

While the effects of the global downturn on international trade are still lingering, Mr Norman says the outlook for Australia’s marine insurance sector remains positive.

Policies provided by his firm will include specialty project and international cargo, commercial hull and cover for port and terminal operators.