A leading specialist New Zealand-headquartered underwriting agency has today opened for business in Australia, building on its success of expanding across Asia Pacific in recent years.
Delta Insurance was established by industry leaders Ian Pollard and Craig Kirk in 2014. The pair had a vision to deliver a unique approach to the speciality commercial lines insurance market, by bringing passion, innovation and exceptional customer service to the sector. The company expanded into Asia just three years later, where it became the first Lloyd’s coverholder in Singapore. It now provides specialist underwriting to clients across the region, including Hong Kong, Taiwan, Malaysia, Thailand, Vietnam and Indonesia.
With more than 50 staff and nearly 20,000 clients, Mr Pollard said the time was right to cross the Tasman. “It’s one of the biggest insurance markets in the world,” he said. “We have been building a business case to launch in Australia since we started Delta Insurance, and we’re excited that moment has arrived.”
Delta’s Australian launch has been spearheaded by Stephen Carey, who has more than 15 years’ experience in both the Australian and English insurance markets. Mr Carey was most recently at Chubb, where he held a number of underwriting, management and business development roles. He said the time was ripe for Delta Insurance to enter the Australian market. “Brokers are looking for insurance partners who can not only provide superior products for their clients, but also exceptional customer service across both underwriting and claims,” he said.
Delta Insurance has launched with an initial suite of its market-leading solutions - including professional indemnity, management liability and cyber insurance - with plans to expand its offering in the coming months.
“We’re particularly focussed on working with clients in the professional services, technology, healthcare and manufacturing and food and beverage sectors,” Mr Carey said.
Delta Insurance, which was in 2021 identified as one of the fastest growing companies in the Asia Pacific, has expanded upon its partnership with Lloyd’s, establishing a new coverholder in Australia with the support of several new and existing capacity partners.
Mr Kirk said Delta Insurance was focussed on developing long-term, mutually beneficial relationships by providing solutions that assist with risk mitigation and more traditional risk transfer outcomes. “Everybody needs insurance, but it is more beneficial for all parties if losses are prevented in the first instance,” he said. “That way cover is reserved for more complex or unforeseen events that cannot be easily risk managed. Having a barrier at the top of a cliff rather than an ambulance at the bottom is something we talk about a lot.”
Delta Insurance’s success was recognised earlier this year when it made The Financial Times’ Top 500 list, having experienced 75 per cent growth over the past three years. Despite its rapid growth, Mr Pollard said the company’s primary objective was to be a market leader, rather than focus on size. “We’re incredibly excited to join the Australian market and forge new partnerships with brokers and intermediaries across the country” he said. “This is also the start of a new chapter for the company, as we continue to implement our longer-term vision to embrace change and make the world a safer place.”