SYDNEY, Australia—AXIS Specialty Australia launched this week as a direct offshore foreign insurer in Australia.
AXIS Speciality Australia, licensed by the Australian Prudential Regulation Authority, provides security for Dexta Corp. Pty Ltd.—a member of Sydney, Australia-based Stardex Insurance Group Pty Ltd.—for professional indemnity, directors and officers liability, and information technology liability insurance, the company said in a statement.
AXIS—a unit of Pembroke, Bermuda-based AXIS Capital Holdings Ltd.—was granted an APRA license in late May.
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