Business launches with property, construction and engineering, mining and surety products, targeting commercial and mid-market clients
Munich Re Specialty has formally entered the Australian primary specialty insurance market, initially offering property, construction and engineering, mining and surety products.
The business will target commercial and mid-market clients and will be headquartered in Sydney.
Munich Re Specialty said the launch forms part of its wider growth strategy to place underwriting and claims expertise closer to clients and brokers.
The new Australian operation will also provide access to products available through Munich Re Specialty’s Lloyd’s syndicate and the broader capabilities of Munich Re Group.
The re/insurance company said it will continue investing in partnerships with MGAs it backs in Australia.
Chris Mackinnon will lead the business as head of Munich Re Specialty in Australia, with responsibility for growth and relationships with specialty brokers and clients.
Munich Re Specialty has also appointed Chris Harnett as head of underwriting, Angus Kench as head of claims and Alison Percival as head of partnerships.
The Australian launch builds on Munich Re Specialty’s existing Asia-Pacific presence, which includes offices in Singapore, Malaysia and Dubai.
Mackinnon previously spent nine years as Lloyd’s general representative in Australia before moving to Singapore in 2024 as regional director for Lloyd’s across Asia-Pacific, the Middle East and Africa.
He was also recently awarded the lifetime achievement award by the Australian and New Zealand Institute of Insurance and Finance.
Mackinnon said: “Today is the culmination of purposeful strategic planning to bring the best of Munich Re Specialty to the Australian insurance market.
“Munich Re’s global financial strength, stability and technical prowess provides a powerful competitive advantage and a basis as a long-term partner for risk management.”
“Complemented by my team of experienced underwriters and claims professionals, we will provide local authority with an easy to access, consistent and responsive approach.
“We have built client needs into our planning from the outset and for that reason, I have every confidence the market will appreciate our offering,” he added.
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