Calliden has announced it will exit the market for builders’ warranty insurance in Victoria, leaving QBE as the last insurer standing.

Its decision follows the Victorian Managed Insurance Authority appointment of QBE as the sole government provider of the product under the new state-underwritten scheme.

Calliden will exit the Victorian market by March 31 of next year, commencing a three-stage transition period beginning from the start of next month.

Group Executive Marketing and Distribution Mike Hooton told insuranceNEWS.com.au Calliden aims to provide as “smooth and seamless a transition as we possibly can”.

“We’ll now concentrate our efforts in the states we continue to be involved with, including WA, SA and our close partnership with NSW,” he said.

Earlier this month Calliden was appointed as one of two agents to the new scheme in NSW, alongside QBE. Last month the WA Government announced both QBE and Calliden had committed to the local market for at least three years.

It follows the departure from privatised builders’ warranty markets of previous major providers Lumley, Vero and CGU.