Market Lane Insurance Group has launched a new wholesale underwriting placement specialist, MLX Risk Partners, to provide capacity for complex, large and specialty commercial insurance risks. 

MLX is focused on large commercial and industrial property placements above $200 million in asset value, large and/or complex general liability exposures, and natural catastrophe exposures including cyclone, flood and bushfire, as well as unique or complex occupancy risks and exposures. 

MLX says brokers can find efficient and unique capacity solutions as it makes use of underwriting expertise across the Market Lane Group, combined with extensive insurance networks. 

“By accessing the vast capabilities of these markets for our broking partners, we can source alternative capital and risk placement solutions for the most complex commercial insurance risks,” said Market Lane, which also has brands The Barn Underwriting Agency, GOAT Insurance and Fairlight Medical Insurance.  

“Exciting times with the launch of our latest offering, MLX Risk Partners. MLX becomes our fourth trading division and will be an extension to our current offerings,” Market Lane Insurance Group Head of Group Operations & Partnerships Matthew Porteous said. 

MLX says it has access to leading global insurance markets and capital providers in key insurance hubs in Australia and globally. 

The Sydney-based team includes Head of MLX Sam Reid, who was formerly GOAT Head of Property and has held senior underwriting positions at Argenta and SLE Worldwide, and Placement Underwriter Ben Marr, a former GSA Insurance Brokers broker and professional rugby player.  

“MLX isn’t just another wholesaler. We are at our core underwriters. Working with the broader underwriting unit within the Market Lane Group we collaborate with our broker partners and global insurance peers to assess each risk and deliver outcomes,” Mr Reid said.  

Exposures might include bespoke manufacturing, explosives, mining, storage, recycling, waste management, and MLX offers additional capacity support to existing market lane businesses in the other three brands, and primary, excess or alternate placement strategies. 

Examples of businesses and industries it might serve include amusement parks, aquaculture, automotive industry such as wreckers, clients with adverse claims history, disability housing, explosive manufacturing/storage in the mining industry, food & beverage production, hospitality, medicinal cannabis growing/manufacturing, mines, quarries, recycling exposures, remote tourist parks, residential strata (ISR placements), tyre wholesaling/retailing, waste treatment, woodworking/sawmills, and island resorts and holiday accommodation. 

Mr Marr said he was "returning to the promised land – the Australian insurance industry” after playing for the Australian 7's for 12 months, winning tournaments in London and Hong Kong. 

"There’s no place like it! Beginning my career in broking has given me a platform of insurance knowledge and relationship building expertise necessary to launch my career as a placement specialist on the underwriting side of the business,” he said.