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British underwriter eyes Australian market ‘momentum’

Carbon Underwriting’s new CEO Jacqui Ferrier says the Australian market offers opportunities for specialist underwriters and is “very much on our radar”.

The UK agency recently expanded into international healthcare, with a focus on delegated medical malpractice portfolios in Australia and elsewhere.

“We’re excited by the momentum there, particularly in light of the regulatory changes shaping the sector,” Ms Ferrier told insuranceNEWS.com.au.

She says the “evolving” regulatory landscape – particularly new oversight mechanisms such as the Financial Accountability Regime – is creating opportunities for specialist underwriters. 

“This is especially evident in complex specialty risk sectors such as aged care, healthcare and medical malpractice, where there’s increasing scrutiny and demand for better risk insight, particularly in delegated authority portfolios,” she said.

“These dynamics play to Carbon’s strengths. We specialise in delegated authority underwriting, and our ability to bring clarity, capacity and data-driven insight makes us a natural partner in a market that’s calling out for more intelligent solutions.”

Ms Ferrier, previously chief underwriting officer, stepped up last month after former chief Nick Tye retired for health reasons.

She, Mr Tye and MD Ben Laidlaw founded Carbon in 2018. In 2020, it launched as a Lloyd’s syndicate in a box via managing agent Asta, before moving to full syndicate status in 2023.

Carbon is a multiline specialist with expertise across property, casualty, financial lines, accident and health, and specialty.

Ms Ferrier told insuranceNEWS.com.au: “We’re actively building out our footprint through delegated portfolios, most recently in the healthcare space.

“With Lloyd’s support and our Graphene platform, Australia continues to be a core territory of ours and a natural fit for Carbon’s unique value proposition.

“We see real potential to support Australian [managing general agents], coverholders and brokers who need more agile and informed capacity partners, who are able to consider both the micro- and macro-dynamics of the wider portfolio as the market evolves.”

Ms Ferrier, who is Australian, has been working in Britain since 2010, according to her LinkedIn. Before Carbon, she was an underwriter with Catlin from October 2010 to 2018.

Asked about the commercial space, she said: “There are clear signs of market softening, but context is key. At Carbon, it’s less about chasing market cycles and more about maintaining underwriting discipline. A softer cycle doesn’t have to mean poor performance when you are selective, informed, and tech-enabled.”