A new facultative specialty reinsurance underwriting agency is set to launch, backed by Lloyd’s capacity.

Market Lane Insurance Group CEO David Porteous says Lane Reinsurance Agency is “built to bring fresh thinking and focused solutions to the Australian and New Zealand commercial property market. [It] aims to be the go-to partner for facultative reinsurance protection in the region.”

Lane Re is owned by the same private investment company as Market Lane Group. The agency is a Lloyd’s coverholder and expects to launch soon, according to its website.