SURA

What SURA does

SURA is a group of ten specialist underwriting agencies operating as a wholly-owned subsidiary of AUB Group Limited (ASX:AUB), headquartered in North Sydney, Australia. Founded in 2005, the company employs over 200 industry professionals across offices in Sydney, Melbourne, Brisbane, Perth, Hobart and Adelaide, and develops purpose-built insurance policies from the ground up for niche industry verticals — including construction, engineering, labour hire, complex liability, life sciences, motor dealers, professional risks, technology, strata, bloodstock, and bus & coach. Each agency maintains dedicated specialist underwriters, with several teams carrying combined experience exceeding 100 years, and operates under binding-authority agreements with capacity providers including Lloyd's and Berkley.

The group's core product is proprietary, vertically-specialised policy wordings that capture exposures standard insurers typically miss. Distribution is exclusively through insurance brokers across Australia, supported by regional Market Day events, industry association memberships (ANZIIF, NIBA, UAC, CQIB), and dedicated National Distribution Managers. Minimum premiums start at approximately A$1,000 plus charges for products such as Cyber and Life Sciences, with maximum liability limits up to A$20 million on several lines. Recent offensive moves include the September 2024 launch of SURA Life Sciences and the November 2024 launch of SURA Cyber, each headed by a named Managing Director and supported by proprietary policy wordings, 24/7 cyber incident response, and capacity extensions from existing partners.

The business model is specialist insurance underwriting: SURA designs policy wordings, prices and binds risk on behalf of capacity providers under binding authority, distributes through brokers, and retains a commission plus underwriting-margin share of gross written premium. Revenue mechanics depend on premium volume, loss ratios, and the economic split negotiated with each capacity partner. The end customer base spans Australian SMEs and mid-market businesses across more than ten specialty verticals, with 10 purpose-built agencies providing multi-vertical diversification of underwriting risk and broker distribution.

Name

SURA

Legal name

SURA Pty Ltd

Website

https://sura.com.au

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

101–250 employees

Short description

SURA is an Australian group of ten specialist underwriting agencies (a subsidiary of ASX-listed AUB Group) that develops purpose-built insurance products for niche verticals and distributes them exclusively through brokers.

Ownership category

akta.pro rank

Product category

Specialty Insurance Underwriting

NAICS

Insurance Agencies and Brokerages (524210), Insurance Carriers (5241), Other Insurance Related Activities (52429)

SIC

Insurance Agents, Brokers & Service (6411), Insurance Carriers, Nec (6399)

akta.pro primary industry

Management Liability (D&O/EPL/Fiduciary) (FSAJAGAD)

akta.pro secondary industries

Professional Liability (E&O) (FSAJAGAC), Professional Umbrella / Excess (E&O/D&O Wrap) (FSAJANAH)

Keywords

• Specialist underwriting agency
• Niche insurance products
• Professional indemnity insurance
• Commercial liability insurance
• Cyber insurance

Headquarters

HQ city

North Sydney

HQ country

Australia

HQ region

Oceania

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Insurance Underwriting Premiums: SURA operates as an underwriting agency generating revenue through insurance premiums. They develop and underwrite specialist insurance products, collecting premiums from policyholders via their broker network and retaining a portion as underwriting profit.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels6 records

Core offering

SURA is a group of specialist underwriting agencies that develop purpose-built insurance products from the ground up to suit niche industry segments. Operating through approximately 10 agencies covering construction, cyber, engineering, labour hire, liability, life sciences, motor dealers, professional risks, technology, strata, bloodstock, film and entertainment, and bus and coach sectors, SURA underwrites and distributes these specialist insurance policies exclusively through the Australian insurance broker network.

Product overview

SURA is a group of 10 specialist underwriting agencies operating under the AUB Group, offering purpose-built insurance products developed from the ground up to suit specialist industry needs. The portfolio includes SURA Construction, SURA Cyber, SURA Engineering, SURA Labour Hire, SURA Liability, SURA Life Sciences, SURA Motor Dealers, SURA Professional Risks, SURA Technology Risks, and Bloodstock Insurance Australia as core products. Additional sub-brands include Cinesure Global for film and entertainment, and Longitude, Rubix, and Strata Unit Underwriters for strata insurance. The company also includes Australian Bus & Coach Underwriting. Each agency specializes in specific insurance products or industry sectors with in-depth industry knowledge, specialist underwriting expertise, and dedicated claims service.

Differentiator

Problem solved

Functional benefit

Products and services

• SURA Construction
• SURA Cyber
• SURA Engineering
• SURA Labour Hire
• SURA Liability
• SURA Life Sciences
• SURA Motor Dealers
• SURA Professional Risks
• SURA Technology Risks
• Bloodstock Insurance Australia
• Australian Bus & Coach
• Cinesure Global
• Longitude

Quantifiable outcome

• Over 100 years combined experience in Professional Risks team
• +3 more outcomes

Named customers1 record

Segments9 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered supporting and core.

• ANZIIF (Australian and New Zealand Institute of Insurance and Finance)supportingOthersANZIIF is the leading membership, education, training and professional development organisation for the insurance and finance industry in the Asia-Pacific region. SURA is a Corporate Supporter, participating in industry-relevant, not-for-profit projects.
• CQIB (Council of Queensland Brokers)supportingOthersCQIB represents over 60 Queensland firms employing nearly 400 staff and placing in excess of $500,000,000 in annual premiums. The charter is to maintain professionalism through sharing of knowledge, information and ideas.
• NIBA (National Insurance Brokers Association)supportingOthersNIBA is Australia's peak body of the insurance broking profession and administers the Insurance Brokers Code of Practice which all members must adhere to.
• UAC (Underwriting Agencies Council)supportingOthersUAC serves its members' interests through professional development events, broker expos, sector-specific marketing campaigns, and advocacy with government and industry bodies. UAC has more than 100 agency members.
• 360 Underwriting SolutionscoreStrategic or Co-development Partner360 Underwriting Solutions is an Australian owned underwriting agency group providing specialist insurance solutions exclusively through brokers. Australian Bus and Coach Underwriting is part of the 360 Group and operates as a purpose-built underwriter for bus and coach owners and operators, leading the market since 1979.

Scale indicators3 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• Hollard Insurance Australia: Hollard is Australia's largest underwriting agency group, partnering with brokers to deliver specialist insurance products. Comparable to SURA because both operate as multi-line underwriting agency groups distributing exclusively through brokers with purpose-built specialist products across multiple verticals.
• Dual Australia: Dual is an international underwriting agency (MGA) operating in Australia with specialty lines including professional indemnity, cyber, and financial lines. Comparable to SURA because both operate as MGAs distributing specialty insurance exclusively through brokers.
• Pacific International Insurance: Pacific International is an Australian underwriting agency offering specialty commercial lines through brokers. Comparable to SURA because both operate as specialist underwriting agencies in Australia distributing through the broker channel with similar specialty line focus.

Broad incumbents

• Steadfast Group: Steadfast (ASX:SDF) is Australia's largest broker network and also operates underwriting agencies. Comparable to SURA because both distribute specialist insurance through broker networks in Australia, though Steadfast is a broader broker-led platform while SURA is a pure underwriting agency group within AUB.
• Allianz Australia: Allianz is a major direct insurer in Australia with broad commercial lines including liability, engineering, and motor. Comparable to SURA because Allianz writes many of the same specialty lines (Professional Indemnity, Engineering, Motor) but as a large generalist carrier rather than a focused underwriting agency.
• CGU Insurance (IAG): CGU, part of IAG, is a major Australian commercial insurer offering liability, engineering, and construction insurance through brokers. Comparable to SURA because both serve the Australian broker channel for similar specialty commercial lines, but CGU is a much larger established carrier versus SURA's focused underwriting agency model.
• QBE Insurance Australia: QBE is a major Australian-headquartered global insurer offering specialty and commercial lines through brokers. Comparable to SURA because both write specialty commercial lines through Australian brokers, though QBE retains risk directly as a global carrier rather than acting purely as an underwriting agency.
• Chubb Insurance Australia: Chubb is a global specialty insurer with significant Australian operations across professional indemnity, cyber, D&O, and life sciences. Comparable to SURA because both target the same Australian specialty commercial segments (Cyber, Professional Indemnity, Life Sciences), but Chubb is a global carrier while SURA is a local underwriting agency.
• AIG Australia: AIG is a major global insurer with Australian specialty lines including Professional Indemnity, D&O, Cyber, and Management Liability. Comparable to SURA because both serve Australian brokers writing specialty professional and management liability business, though AIG is a global carrier versus SURA's focused underwriting agency model.
• Vero Insurance (Suncorp): Vero, part of Suncorp, is an Australian commercial insurer offering professional indemnity, liability, and engineering lines through brokers. Comparable to SURA because both write specialty commercial lines for Australian brokers, though Vero is a direct carrier within a broader banking/insurance group.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/sura

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries15 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SURA