Lloyd’s has strengthened its partnership with the Underwriting Agencies Council (UAC) by sponsoring the UAC Sydney Underwriting Expo to be held in early 2023.
Lloyd’s and the UAC have been teaming up since 2010. This is the first time the UAC has offered naming rights for one of its underwriting expos.
“Lloyd’s identified in 2010 that its growth would come via coverholders, and it was, therefore, keen to have a formal relationship with UAC, as the representative body for underwriting agencies, the majority of which are Lloyd’s coverholders,” said UAC general manager William Legge.
“The massive growth in Australian underwriting agencies over that time, both in number and premium income, underpins the value of the partnership for Lloyd’s and UAC. Offering naming rights for an expo to Lloyd’s takes our relationship to a new level, with benefits for both parties.”
In 2023, the UAC will hold its largest-ever program of expos, with 10 events across Australia, enabling UAC member agencies and business service members to showcase their specialist products to insurance brokers. The Lloyd’s-sponsored expo will be known as the UAC-Lloyd’s Sydney Underwriting Expo.
“We’re delighted to continue our longstanding relationship with UAC. UAC has done a fantastic job of promoting and providing a voice for underwriting agencies in Australia, which has contributed to their immense success,” said Chris Mackinnon, who joined Lloyd’s as its Australian country manager and general representative in early 2015 and has been an associate director on the UAC board since then.
“Underwriting agencies are a key pillar of the Lloyd’s market, accounting for about 40% of Lloyd’s global business and almost half of our Australian business. We are thrilled to reaffirm our support for UAC to ensure underwriting agencies continue to thrive in the Australian market.”
The UAC-Lloyd’s Sydney Underwriting Expo will be held on February 16, 2023, at a new venue: ICC Darling Harbour, another first for UAC.
This year’s UAC underwriting expos were successful, with the recent expo in Hobart boasting 61 exhibitors, a record turnout for its Hobart expo.
