Mustard Underwriting, backed by capacity from the Lloyd’s market, has launched today, offering risk protection products aimed at companies operating in the sharing economy.

Under its agreement with Apollo Syndicate Management’s ibott 1971, the Sydney-based underwriting agency says it is looking to key customer segments including ridesharing, on-demand delivery, accommodation sharing, vehicle and service sharing.

Stuart Byars is CEO and co-founder of Mustard. Jon Calverley and John Robertson, the other co-founders, are Global Head of Partnerships and Chief Underwriting Officer.

“We want to be known as the go-to market for businesses in the sharing economy and digital marketplace,” they said in a statement.

“We believe we can offer relevant, tailored solutions, backed by best-in-market service. We are excited to be partnering with Apollo 1971, one of Lloyd’s best performing syndicates and recognised globally within the sharing economy space as a true market leader.”

Head of Apollo ibott 1971 Chris Moore says the syndicate is “excited” about the partnership with Mustard.

“Our shared values and expertise make Mustard an excellent local partner for Apollo ibott 1971 to bring our market leading products to Australia, as we continue creating a more resilient and sustainable world, through collaborating with experts,” Mr Moore said.

Lloyd’s, the leading capacity provider to Australian underwriting agencies, has previously said it expects to see more growth in the local market after gross signed premium rose to more than $4 billion last year. It is the first time that Lloyd’s has achieved signed premium in excess of $4 billion in Australia.