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.