Financial lines-focused Eureka Underwriting has launched, offering directors and officers, professional indemnity and other products backed by Lloyd’s security. 

“We specialise in underwriting risks that fall outside standard market appetite … combining deep technical expertise with carefully engineered policy wordings to provide clarity of cover where it matters most,” the underwriting agency says on LinkedIn. 

CEO Giuseppe Carone says he has been working on setting up the agency after leaving Swiss Re Corporate Solutions last year, where he was head of professional indemnity. 

"We’ll do everything from scheme business for smaller account up to corporate risks … we have a wide variety of appetite,” Mr Carone tells insuranceNEWS.com.au. 

“We can do primary, we can do excess … from $1 million to $10 million. I’m really excited.” 

While the market is competitive, Mr Carone says his prior experiences will be beneficial as he works on growing the agency. 

“I’ve been in the industry … The one thing I want to say is I still believe relationships are really important, so hopefully we can utilise past relationships and new relationships for success.” 

Before Swiss Re, Mr Carone was head of PI and cyber liability with AIG. 

“Drawing on almost 25 years of experience in the Australian financial lines market, our focus is simple: finding solutions rather than obstacles,” he said on LinkedIn.