- Esurance (ENA) acquires TK Speciality Risks (TKSR) and rebrands the entity Esurance Australia, setting up a Sydney branch for its east coast expansion
- The company has appointed Nick Beswick as managing director of the professional risks division, effective from January next year
- ENA is poised to launch products from its UK range to Australian insurance brokers via Esurance Australia during the current quarter
- Shares are sitting steady at 26 cents at 2:21 pm AEST
Esurance (ENA) has completed its acquisition and integration of TK Speciality Risks, rebranding TKSR as Esurance Australia.
In a statement today the company said expansion plans were underway for the newly formed Australian arm, with a key appointment made earlier in the week.
Nick Beswick is set to join the Aussie offshoot as manager of its professional risks division at the Sydney branch, effective from January next year.
Mr Beswick is currently the product leader for professional indemnity at AXA XL in Australia. He has 30 years’ experience in the insurance industry and has managed a national portfolio at his present post since 2014.
Commenting on the appointment, ENA’s managing director Tom Kent said the response from key broker partners had been “overwhelmingly positive”.
“Having someone of Nick’s calibre join us to establish our Sydney branch in January, 2022, speaks volumes about the strength of our relationship with our business partners,” he said.
“The stage is now set for the next phase of growth for the company.”
In light of its east coast ambitions, Esurance Australia is gearing up to distribute products from its UK range to Australian insurance brokers, starting in the current quarter.
With record group revenues recorded in August, ENA’s executive chairman Tony Leibowitz said the company was pleased with the progress to date.
“Importantly, with Nick joining ENA with effect January 1, 2022, the company is well placed to execute on its aggressive growth strategy,” he said.
Following the update, Esurance shares were sitting steady at 26 cents at 2:21 pm AEST.