Allied World has opened an office in Melbourne as part of a broader strategy to strengthen its position in key regional markets.

The global insurer and reinsurer says the office, its third in Australia, will focus on key products including commercial package, property, construction and professional lines.

The Melbourne presence adds senior hires who have established broker relationships, providing enhanced support in managing complex risks, it says.

“This expansion reflects the growth of our business in Australia,” country head Iain MacLeod said.

“Building our presence in Sydney and Brisbane and now expanding into Melbourne reinforces our ability to support brokers in Victoria with responsive, local underwriting expertise.”

Allied World, which has more than 25 years’ global experience, is a subsidiary of Fairfax Financial Holdings. It says it has a strong capital base and benefits from a worldwide network of affiliated entities that allows it to act in non-traditional ways.