Rhodian Group, an agency “incubator,” has launched its first MGA. Halo Underwriting is Lloyd’s backed and will initially offer industrial special risk and general liability coverages.

A media release said the new Sydney based agency will focus on “hard to place risk across SME/mid-market segments within Australia.”

“We are excited to bring an agency to market that acts as ‘proof of work’ for the Rhodian platform offering,” said Rhodian’s CEO, Simon Lightbody (pictured above).

Halo’s CEO, Peter Takos, said his firm is a response to “market requirements”.

“Brokers are struggling to place their client’s complex risks across many lines, including property and liability, as insurer appetites continue to narrow,” said Takos in the release. “We are here to use our technical skills and years of niche experience to say yes where others can’t,” he said.

According to its website, Rhodian, that launched earlier this year, is Australia's first shared equity underwriting network, “incubating and accelerating” specialist agencies.

In an earlier interview, Lightbody said an investment in Rhodian by Amwins – a firm that describes itself as the United States’ largest independent wholesale distributor of specialty insurance products - allowed his firm to launch in February.