Brokerage establishes underwriting MGA in Australia, inks exclusive distribution deal

Brokerage establishes underwriting MGA in Australia, inks exclusive distribution deal

Brokerage establishes underwriting MGA in Australia, inks exclusive distribution deal Aon has announced that it will establish Aon Underwriting Managers (AUM) in Australia and that it has signed an exclusive distribution deal with Freeman McMurrick.

The distribution deal will position Freeman McMurrick as the sole distributor of AUM products and solutions throughout the region and “will bring market–leading products to clients and brokers across Australia and New Zealand,” according to a company statement.

AUM currently underwrites in excess of $1 billion in premiums globally and will be led in Australia by Alison Smith.

Lambros Lambrou, Aon Risk Solutions Australia CEO, believes the new agency will benefit from the strength of Aon’s global position and analytical insight.

“This agreement strengthens Aon’s existing local and global capabilities to give brokers and their clients services and innovative solutions that go beyond traditional offerings in the retail marketplace,” Lambrou said.

“This enhanced offering is a significant addition to the market and aligns with Aon’s global strategy around underwriting management.

“We have witnessed the successful implementation of MGA strategies in the US and UK. This agreement enables us to replicate a proven model in the local market.”

The deal will allow Freeman McMurrick to become the channel of distribution for new AUM offerings in Australia and New Zealand which are currently under development.