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Argenta Holdings Ltd, a subsidiary of Hannover Re, has recently announced the immediate closure of the Sydney office of its Service Company, Argenta Underwriting Asia Pte Ltd, which operates on the Lloyd’s Australia platform.
Following a review of its underwriting activities in Australia, the business currently managed in Sydney, as well as future business, will now be handled from London.
The other Australian office, MHIA, located in Tuggerah, will not be affected. MHIA has been providing insurance to residents in land lease communities for over three decades, serving more than 20,000 customers across Australia, and will remain an important part of the Argenta Group.
Nick Moore, Chief Executive Officer at Argenta Group, commented, “We have decided to close our Sydney office following a review of its underwriting activities.”
He added, “We are very grateful for the efforts of the team in Sydney. The business will be transferred to our London platform and our clients will continue to receive high levels of service from our team.”
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