Argenta, a subsidiary of Hannover Re, has closed the Sydney office of its service company, Argenta Underwriting Asia, which operates on the Lloyd’s Australia platform.
The business currently underwritten in Sydney, as well as future business in the city, will now be managed from London.
MHIA, Argenta's other Australian office in Tuggerah, which offers insurance coverage to over 20,000 customers in land lease communities across Australia, will remain unaffected.
Nick Moore, Argenta Group CEO, says: “We have decided to close our Sydney office following a review of its underwriting activities.
“The business will be transferred to our London platform, and our clients will continue to receive high levels of service from our team.”
