Underwriting agencies Epsilon, Wellington and Aster say they will be “stronger together” after announcing a merger.

“Wellington and Epsilon have a strong alignment in appetite and, from an underwriting and customer service standpoint, are similar in many ways,” Epsilon CEO Morgan Long said. 

“Aster provides complementary liability schemes for security contracting, marine, pest and building businesses.” 

The three underwriting agencies will create a business with more than $150 million in gross written premium. They will move to new combined office spaces in Brisbane and Sydney in May, and over time will work under the Epsilon brand. 

Mr Long says Wellington and Epsilon each have binders with a mixture of local capacity and various Lloyd’s syndicates with capacity for labour hire, property, construction, financial loss and casualty. Aster has a 20-year history with its capacity supplier for niche products. 

The three agencies are part of Envest Group, which is majority owned by UK-based Ardonagh. 

“The Wellington team will continue to focus on providing innovative and tailored solutions for our clients and are very excited to join the Epsilon team to leverage the back-of-house support and additional capacity,” Wellington director Rob Hunt said. 

“Culturally, it’s a great fit. Both organisations pride themselves on putting the customer first and finding solutions. We bring unique experiences and complementary skills to the mix, so we’ll be stronger together.”