StarStone, the global specialty insurer, has launched a casualty consortium targeted at the Australian and New Zealand markets. The consortium is led by StarStone’s Mark Hunt and has begun underwriting business.
StarStone’s Lloyd’s coverholder in Australia – StarStone Underwriting Australia Pty Ltd. – underwrites this facility on behalf of a consortium of Lloyd’s syndicates. StarStone supports the venture with a 20 percent lead line, with equal shares from its four Lloyd’s syndicate partners providing the remaining capacity.
The consortium will initially offer A$50 million ($36.3 million) capacity and focus on middle-market casualty risks not usually underwritten in London. StarStone will also provide claims support for the consortium through its established and professional claims network in Australia and New Zealand.
“We have identified clear market and broker demand for a solution that combines Lloyd’s expertise and local knowledge in Australia and New Zealand,” said Robin Barham, managing director, StarStone Australia.
“StarStone has been building our presence in the region for some time, and, with experts like Mark leading the way, we can harness the strengths of Lloyd’s to focus on providing exceptional client service,” added Barham.
Mark Hunt, casualty underwriter at StarStone Australia, said: “The consortium supports a truly tailored and client-centric approach to decision-making in the local market, allowing brokers and customers to transact deals as if they were in the underwriting room at Lloyds in London. I believe the collective expertise of those involved in this consortium will significantly increase the local capabilities and profile of Lloyd’s within the casualty space.”
Hunt has over 34 years’ experience in the insurance sector, having begun his career as a liability claims adjuster for Syndicate 386 at Lloyd’s in 1984. Since then, he held a succession of senior roles at various syndicates at Lloyd’s, before moving to Zurich Australia’s casualty department in 2011. Following a successful career at Zurich, Hunt joined StarStone Australia in May 2018.
StarStone underwrites property, specialty and casualty risk classes from operations in London, Continental Europe, Australia and the U.S. with six wholly owned insurance platforms, including Lloyd’s Syndicate 1301. StarStone is owned by Enstar Group Limited, the Trident V funds managed by Stone Point Capital LLC and Dowling Capital Partners I, L.P.
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