Delta Insurance, the specialist New Zealand underwriting agency has opened for business in Australia. The Auckland based firm has launched with an initial suite of insurance offerings including professional indemnity (PI), cyber insurance and commercial liability.
“We have been building a business case to launch in Australia since we started Delta Insurance and we’re excited that moment has arrived,” said managing director Ian Pollard (pictured above left).
The company’s news release said the Australia launch is spearheaded by former Chubb executive Stephen Carey.
“We’re particularly focussed on working with clients in the professional services, technology, healthcare and manufacturing and food and beverage sectors,” said Carey.
Delta already has a presence in Asia where it became the first Lloyd’s coverholder in Singapore.
It also provides specialist underwriting to clients in Hong Kong, Taiwan, Malaysia, Thailand, Vietnam and Indonesia.
According to the release the company has more than 50 staff and almost 20,000 clients.
Pollard said the time was right to cross the Tasman and launch in Australia.
“It’s one of the biggest insurance markets in the world,” he said.
Delta said, to open in Australia, it expanded on the firm’s Lloyd’s partnership by establishing a new coverholder with support from several new and existing capacity partners. Those partners were not named in the release.
Despite its recent expansion, Pollard said rather than focus on size, the company’s primary objective is to be a market leader.
“We’re incredibly excited to join the Australian market and forge new partnerships with brokers and intermediaries across the country,” he said.
Delta was founded by Pollard and group executive director Craig Kirk (pictured above right) in 2014.
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Kirk said Delta was focussed on developing long-term, mutually beneficial relationships by providing solutions that assist with risk mitigation and more traditional risk transfer outcomes.
“Everybody needs insurance, but it is more beneficial for all parties if losses are prevented in the first instance,” he said.
“That way cover is reserved for more complex or unforeseen events that cannot be easily risk managed,” added Kirk.