Steadfast joint venture business takes Beazley A&H book

A new underwriting agency, equally owned by Steadfast and London-based specialty underwriter Advent Capital, has officially launched

Steadfast joint venture business takes Beazley A&H book

Insurance News

By Jordan Lynn

A new underwriting agency, equally owned by Steadfast and London-based specialty underwriter Advent Capital, has officially launched.

The new business, called Blend Insurance Solutions, has signed a deal with Beazley to secure renewal rights to their local accident and health portfolio in Australia.

Blend will be led by Chris Newing, who joined the start-up as CEO in February. He will be joined by Suzanne White, former head of accident and health at Beazley, as general  manager, distribution (coverholders and brokers) in the new business.

Blend business will be placed at Lloyd’s via Advent Capital, which has been trading for more than 40 years and is part of Fairfax Financial Holdings.

“Blend is well positioned to deliver solutions satisfying these needs, with an initial focus on ensuring the smooth transition of the Beazley portfolio with our distribution partners,” Newing said.

Newing previously spent more than a decade at Chubb and was most recently consumer manager for Australia and New Zealand.

In her new role, White will be responsible for managing relationships with coverholders and brokers.
Newing noted that whilst the business is well positioned to make an immediate impact in the market, thanks to the deal with Beazley, the firm will look to further develop and grow its offering.

“Our immediate priority is taking care of Beazley customers but we also see a great opportunity to evolve the industry and take a lead from other industries, with developments such as personalised products and optimised programs for distribution partners.”


Related stories:
Major insurers team up to tackle political risk
Insurer reveals new cyber threat
 

Keep up with the latest news and events

Join our mailing list, it’s free!