Tokio Marine is to enter the SME property and casualty (P&C) market in partnership with new underwriting agency Genesis Underwriting.

It has signed an exclusive underwriting partnership for the SME broker market with the Sydney-based agency, founded by former Miramar owner Anthony Jodrell.

Miramar was acquired by Steadfast as part of its float last year, and Mr Jodrell told insuranceNEWS.com.au he wanted to build another business.

He says Tokio Marine is a large and successful insurer partner and he can see a “solid platform for growth over the coming years”.

Tokio Marine has not operated in the Australian SME P&C space previously, but it has a partnership with online agency eSentry Underwriting for contract works business.

COO and Executive Director Claudio Saita says the Genesis tie-up “is another step for Tokio Marine to diversify its portfolio by establishing itself as a mainstream insurer in Australia”.

The company has previously focused on supporting Japanese businesses here.

“Supporting Anthony, who has a tremendous record of setting up and running a successful underwriting agency, is an exciting development,” Mr Saita said.