Underwriting agency Dexta Corporation has formed a central controlling company, Stardex Insurance Group, to better diversify and promote growth.

The group is Australia’s largest underwriting group and combines underwriting agencies Dexta Corporation, MB Insurance Group, Agricola Underwriting Management, Pacific Underwriting, Macquarie Underwriting, and SLE Worldwide Australia.

Stardex CEO Bob Lee told Sunrise Exchange News the move will also help distinguish the holding company from the Dexta Corporation business. “That will help curb any confusion over the difference between Dexta Group and Dexta Corporation.”

He says competition requires economy of scale and discernible points of difference as the market continues to consolidate. Stardex would like to be listed on the stock exchange within two years, but before that happens it will keep an eye out for more acquisitions.

“We’ve got plans for continued growth, whether that is through new products, extensions to our current products, takeovers or geographic expansion,” Mr Lee said. “We’re in a dynamic market and one in which smaller players are doing it tough.”