Sports Underwriting Australia has struck an agency agreement with Great Lakes Australia after nine years with Calliden as its underwriting security provider.

The deal with Munich Re-owned Great Lakes Australia will apply to all new business and renewals from October 1.

Melbourne-based Sports Underwriting specialises in the sports, leisure and licensed club sectors.

MD Steve Gilbert says partnering with Great Lakes provides the “capacity, support and product development” his company requires to grow its portfolio.

He told insuranceNEWS.com.au the agency agreement was “some months” in the making and “very much aligns with our views on building long-term, sustainable partnerships”.

“Brokers will see a change in appetite and capacity because we have negotiated several enhancements with Great Lakes,” he said.

“These include an expanded property appetite and a liability facility with limits up to $50 million.”

Mr Gilbert says Sports Underwriting will extend its insurance coverage to include licensed club property, in addition to its liability lines for the club sector. However, it has no plans to pursue new market segments or expand its 550-strong national broker network.

Calliden was split up last year after Steadfast bought it for its underwriting agencies and sold the general insurance operations to Munich Re.