Berkshire Hathaway Specialty Insurance Co. (BHSI) said it is entering the healthcare underwriting market in Australia, and has appointed Tony Bainbridge, previously with American International Group (AIG), to lead the effort.
The insurer also announced it has opened an office in Auckland, New Zealand, which is headed by another AIG veteran, Cameron McLisky.
In Australia, BHSI said it would offer property, casualty and executive and professional lines coverages for the country’s hospitals and medical practices and facilities, according to Chris Colahan, president, of the Australasia region.
Bainbridge was most recently regional head of Healthcare, Asia Pacific, at AIG. Before that, he was Medical Malpractice underwriting manager for Newline Group. He has also been general manager at Avant Mutual and spent years on the reinsurance side of the business at Munich Re Australasia and Swiss Reinsurance Co. in Melbourne, Hong Kong and Tokyo. He began his career in liability underwriting, holding positions at several major insurers in the UK and Australia. He is based in BHSI’s office in Melbourne.
The announcement builds on the news from earlier this month that Berkshire Hathaway agreed to pay A$500 million ($388 million) for a stake in Insurance Australia Group Ltd. [IAG] as part its expansion in the region. Warren Buffett’s company will get a 3.7 percent stake in the Sydney-based firm through a placement of new shares.
BHSI also said it had received its license from the Reserve Bank of New Zealand and is underwriting property and casualty insurance through its new office in Auckland. Peter Eastwood, global president and CEO of BHSI, said the firm is opening its doors in Auckland with a highly experienced team, headed by Country Manager Cameron McLisky.
He joins BHSI with two decades of industry experience, most recently serving as regional Financial Lines manager at AIG Asia Pacific. Before that he was regional offices manager at AIG UK Ltd and Financial Lines manager at both AIG Australia and AIG New Zealand. He was also with Gen Re in Auckland.
BHSI’s other appointments in New Zealand include the following:
- Doug Thomson has been named Property and Energy manager. Thomson was most recently head of Vero Special Risks. Before that, he was head of Property and Energy manager for AIG in New Zealand.
- Anthony Posa has been named Casualty manager. Posa comes to BHSI with nearly two decades of experience, most recently as Auckland region Commercial Lines manager and Corporate Trading Team manager at Lumley Insurance. He was previously at ACE Insurance and RSA.
- Megan Howe is the Claims manager. Howe has 20 years of experience as a lawyer, most recently at Robin Simon LLP in London, where she specialized in defense, coverage and regulatory work for insurers and professionals.
Other members of BHSI’s New Zealand underwriting team include Karen Poching and Ian Marshall, both senior underwriters, Financial Lines, and Nikki Quain, senior underwriter, Property. Jessica Jefferies is underwriting assistant.
In addition, BHSI said it can offer Marine Cargo in New Zealand, with Australia-based Mark Dixon also having New Zealand responsibility.
Source: Berkshire Hathaway Specialty Insurance Co. (BHSI)
Topics Underwriting Property Australia AIG
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