Argenta Underwriting Asia, operating through Lloyd’s Australia, is to close its Sydney office, the company has said.
Argenta Holdings has announced that its Sydney office will close with immediate effect.
The office is run through its service company, Argenta Underwriting Asia, which operates on the Lloyd’s Australia platform.
The news follows a review of the group’s underwriting activities in Australia.
Business currently underwritten in Sydney, as well as future business, will be managed from London, the firm said.
MHIA, Argenta’s other Australian office located in Tuggerah, will not be affected and will continue to be an important part of the Argenta Group.
MHIA has been providing insurance coverage to residents in land lease communities for more than three decades, the firm said, with a customer base of more than 20,000 across Australia.
Nick Moore, Group CEO Argenta said: “We have decided to close our Sydney office following a review of its underwriting activities.
“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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