Wholesale underwriter MLX Risk Partners has secured a financial services licence.

The business was launched by Market Lane Insurance Group in 2023 to provide capacity for complex, large and specialty commercial insurance risks.

“MLX has entered an exciting new chapter, launching as an independent wholesale underwriting and placement business following its transition from Market Lane Insurance Group on March 31,” a spokesperson told insuranceNEWS.com.au.

“The licence represents an important step in the company’s evolution, providing a strong platform to continue expanding its capabilities and strengthening its position within the market.”

MD Sam Reid says the licence “sets the foundation” for the business’ next stage.

“MLX is not just another wholesaler. We’re agile and confident in our ability to help brokers navigate complex risks and deliver the right outcomes for our clients,” he said.

Sydney-based Mr Reid was formerly head of property at GOAT and has held senior underwriting positions at Argenta and SLE Worldwide.

MLX head of wholesale Ben Marr is a former GSA broker and professional rugby player.

The company focuses on commercial and industrial property placements, large and/or complex general liability exposures, and natural catastrophe exposures including cyclone, flood and bushfire, plus unique or complex occupancy risks.