Marine specialist RedSky Insurance has become part of Epsilon Underwriting under a partnership agreement.

Envest-owned Epsilon says the deal combines its broad underwriting platform and national reach with RedSky’s expertise in cargo, stock throughput, commercial hull and marine liability products.

“RedSky has built a strong reputation in the marine market, and its specialist expertise is highly complementary to Epsilon’s existing capabilities,” Epsilon CEO Morgan Long said.

“By bringing our businesses together, we can provide brokers with broader access to specialist underwriting solutions, backed by experienced teams and a consistent service approach.”

RedSky launched in 2019 with a portfolio its founders acquired from Agile Underwriting. Co-founder Jill Murphy says joining Epsilon is a natural next step for the underwriting agency.

“We remain committed to the broker relationships and technical expertise that have underpinned our success, while benefiting from the scale, resources and broader underwriting capability that Epsilon provides,” she said.

RedSky policies, renewals and related transactions will be managed by Epsilon from tomorrow.

A notice to brokers says the transfer of policies to Epsilon started on July 1. Those policies were issued as an authorised representative of Allstate Insurance, also an Envest-owned business.

“There will be very little change for our broker partners,” the notice said. “You will continue to trade with the same team.

“However, this will now occur under the Epsilon Underwriting [licence] and brand.”