Rhodian Group has created an underwriting agency called Amparo, specialising in surety bonds and backed by Munich Re via Great Lakes Australia.

It is the sixth launch by agencies incubator Rhodian.

Amparo bonds are designed for larger-scale and technically demanding projects to address what it says is growing demand among contractors and project principals for capital-efficient alternatives to traditional bank guarantees. The tailored surety solutions suit complex contracts, it says.

“We’re bringing a new level of confidence and capability to Australia’s surety market, one built for long-term relationships and sustained growth,” Rhodian Group CEO Simon Lightbody said.

Amparo CEO and co-founder Liam Berry has spent five years at Lockton as credit solutions director and head of surety, trade credit and political risk. He also had senior roles at AIG, QBE and Euler Hermes. 

Co-founder and chief underwriting officer Martin Ripoll spent five years as Liberty Specialty Markets senior underwriter for surety bonds in Asia-Pacific, and has also held senior roles at Tokio Marine, Royal Bank of Scotland and QBE.