Agile Underwriting’s new Lloyd’s syndicate, due to launch in April, could give Australian brokers access to much-needed capacity and products, sources say.

As reported in a Breaking News bulletin earlier today, insuranceNEWS.com.au understands the Sydney-headquartered agency has been given the go-ahead to establish its own Lloyd’s syndicate.

Agile is already a Lloyd’s coverholder, but the syndicate could enable rapid growth and the launch of new products, including blended products such as bizpack.

One source told insuranceNEWS.com.au the move removes the “existential threat” of a lack of capacity, and will enable Agile to “fix some of those problems that brokers have got”.

Agile is understood to have been given in-principle approval for the launch yesterday by Lloyd’s through its “syndicate in a box” scheme. 

Asta will be the managing agency for the syndicate and the active underwriter will be former Zurich Australia head of deal and broker management Mark Hunt.

Agile was formed in 2015 and is led by CEO Robin Barham, who has more than three decades’ experience working with Lloyd’s syndicates in London and Australia.

The agency, which has 40 staff across Australia, operates only through brokers and provides financial lines, cyber, aviation, construction, and accident and health, among other lines. It also offers insurtech solutions.