Home / Daily / Ensurance outlines Australia expansion, key appointment
10 September 2021
Ensurance has completed the integration of newly-acquired underwriting agency TK Specialty Risks, which will be rebranded as Ensurance Australia and target "aggressive" growth.
The listed company last year sold its local underwriting business, and focused for a time on building its UK operations.
But in a statement to the Australian Securities Exchange today, it says expansion plans are well under way for the “newly-formed Australian arm of the company”.
Product Leader for Professional Indemnity at Axa XL in Australia Nick Beswick will join Ensurance from January 1 as manager of the professional risks division. Axa XL also provides capacity for Ensurance Australia.
Ensurance Australia MD Tom Kent says the response from key broker partners to the appointment has been “overwhelmingly positive”.
“The stage is now set for the next phase of growth for the company,” he said.
Ensurance Australia, which has strong roots in SA and WA, is now looking to make inroads into Sydney and Melbourne. The company will also distribute Ensurance UK’s international products to Australian insurance brokers on a wholesale basis.
Executive Chairman Tony Leibowitz says the company is now “well-placed to execute on its aggressive growth strategy”.
He told insuranceNEWS.com.au the new Australian business is “fundamentally different” to the previously sold operations with new capacity and management in place.