What Redsky Insurance does

RedSky Insurance Pty Ltd is a specialist marine underwriting agency founded in December 2019 in Sydney, Australia by Jill Murphy, Heather Roberts, and Jodie Drinnan, with founding capital from Envest. The company underwrites cargo, commercial hull, yacht and pleasure craft, water's edge liability, and hull and machinery insurance, operating exclusively through insurance brokers on a B2B2C basis. As a Coverholder at Lloyd's of London and an Authorised Representative (AR No. 1279326) of Allstate Insurance Pty Ltd (AFSL 239010), RedSky arranges policies for and on behalf of Certain Underwriters at Lloyd's, providing access to Lloyd's market capacity and prestigious market standing for its broker clients.

The business is enabled by a marine underwriting platform with a broker portal hosted on InsuredHQ (redsky-portal.insuredhq.com), supporting quote requests, policy management, and claims handling. The company differentiates itself from larger marine insurers through local claims-settling authority, flexible bespoke underwriting, and willingness to write difficult-to-place risks such as solo offshore sailing yachts. Distribution is entirely broker-led, with a 4-hour callback SLA for broker inquiries and no direct-to-consumer pricing or self-serve purchase. Marketing relies on the company website, news/blog content, industry events (including the Sydney Underwriting Expo), and partnerships such as the sponsorship of solo sailor Lisa Blair.

RedSky serves brokers across Australia, New Zealand, the Pacific Islands, and parts of Asia, building on the marine portfolio acquired from Agile Underwriting at launch. The founding team brings over 50 years of combined experience from AIG Australia, AON Risk Solutions, and QBE, and Murphy has been a Lloyd's coverholder since 2012. Revenue, funding, and headcount progression are not publicly disclosed.

Name

Redsky Insurance

Legal name

RedSky Insurance Pty Ltd

Website

https://redskyinsurance.com.au

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

RedSky Insurance is a Sydney-based specialist marine underwriting agency operating as a Lloyd's Coverholder, offering cargo, commercial hull, yacht, and water's edge liability insurance exclusively through insurance brokers across Australia, New Zealand, the Pacific Islands, and parts of Asia.

Ownership category

akta.pro rank

Product category

Marine Insurance Underwriting

NAICS

Direct Insurance (except Life, Health, and Medical) Carriers (52412), Other Direct Insurance (except Life, Health, and Medical) Carriers (524128), Insurance Carriers and Related Activities (524)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399)

akta.pro primary industry

Ocean Marine Insurance (Hull, Cargo & Freight) (FSAJAHAA)

akta.pro secondary industries

Yacht & Pleasure Craft Insurance (FSAJAHAI), Marine Specialty (Hull/P&I/Cargo) (FSAJAGAJ), Protection & Indemnity (P&I) / Marine Liability Insurance (FSAJAHAH)

Keywords

• Marine insurance underwriting
• Cargo insurance
• Commercial hull insurance
• Yacht insurance
• Broker underwriting agency

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Marine Insurance Underwriting: RedSky acts as a Coverholder at Lloyd's, underwriting marine insurance products including cargo, commercial hull, yacht/pleasure craft, and water's edge liability. Earns underwriting commissions and policy premiums as the managing agency for Lloyd's underwriters.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

RedSky Insurance is a specialist marine underwriting agency that underwrites and arranges cargo, commercial hull, yacht/pleasure craft, hull and machinery, and water's edge liability insurance as a Coverholder at Lloyd's. The company distributes these marine insurance products exclusively through licensed insurance brokers, supported by a dedicated broker portal and local claims settling authority. It does not sell directly to consumers — the website explicitly states 'Brokers only please'.

Product overview

RedSky Insurance is a specialist marine underwriting agency offering a portfolio of marine insurance products. The core offerings include Cargo Insurance covering goods in transit across all transport modes worldwide, and Commercial Hull Insurance covering various vessel types including passenger craft, tugs, barges, and fishing vessels. Additional products include Luxury Pleasure Craft Insurance, Water's Edge Liability Insurance, Hull and Machinery Insurance, and Yacht Insurance. The company operates as a Coverholder at Lloyd's, providing these products through the Lloyd's market and primarily serves insurance brokers who access the coverage via the company's Broker Portal.

Differentiator

Problem solved

Functional benefit

Products and services

• Cargo Insurance Covers cargo for physical loss or damage at every stage of its journey — loading, unloading, sea transit, land transport, air freight, and storage. Covers a wide range of cargo types including small packages, full containers, meat and perishables, grains, machinery, and project cargoes worldwide. Distributed through insurance brokers.
• Commercial Hull Insurance Provides coverage for a comprehensive range of commercial vessels including passenger and tourist craft, tugs and barges, fishing vessels, and workboats. Covers incidents such as vessels running aground, loss of power, and collisions in shipping lanes. Distributed through insurance brokers.
• Luxury Pleasure Craft Insurance Specialized insurance coverage for luxury pleasure craft vessels, distributed through insurance brokers.
• Yacht Insurance Specialized marine insurance for yachts, including niche coverage such as sponsorship of solo sailing expeditions undertaking world record attempts where standard insurers decline cover. Distributed through insurance brokers.
• Hull and Machinery Insurance Coverage for damage to vessel hull and machinery, distributed through insurance brokers.
• Water's Edge Liability Insurance

Named customers1 record

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• Lloyd's of LondoncoreStrategic or Co-development PartnerRedSky Insurance operates as a Coverholder at Lloyd's, enabling them to provide insurance across a broad range of marine products backed by Lloyd's market capacity and reputation. The coverholder status was achieved within 6 months of launching in December 2019, even amid the pandemic. This provides access to Lloyd's global reinsurance capacity and prestigious market standing.
• Allstate Insurance Pty LtdcoreStrategic or Co-development PartnerRedSky Insurance Pty Ltd is an Authorised Representative (AR No. 1279326) of Allstate Insurance Pty Ltd (ABN 82 073 267 053; AFSL 239010). Allstate provides the AFS Licence backing that allows RedSky to operate as an underwriting agency and arrange insurance products.
• Underwriting Agencies Council (UAC)minorOthersRedSky Insurance was elected as a voting member of the UAC in March 2020, joining at their first Sydney Underwriting Expo. UAC is an industry body representing underwriting agencies in Australia.

Scale indicators4 records

Recent moves7 records

Expansion highlights4 records

Broad incumbents

• QBE Insurance: Major Australian-headquartered global P&C insurer with a marine division. QBE is also the prior employer of RedSky co-founder Jodie Drinnan. Comparable as a marine underwriter with Australian Pacific distribution, though much larger and more diversified.
• Allianz Australia: Major Australian general insurer with marine cargo and hull capabilities. Comparable to RedSky as a marine underwriter serving Australian brokers, but with broader product lines and significantly larger scale.
• AIG Australia: Major Australian P&C insurer with marine cargo and hull offerings. Jill Murphy held senior positions at AIG Australia prior to founding RedSky. Comparable as an Australian marine underwriter, though broader in product portfolio.
• Beazley: Lloyd's specialty insurer with a marine, hull, and cargo division. Comparable as a Lloyd's-based specialty underwriter with marine exposure, though broader in product mix.
• AXA XL: Global specialty P&C insurer with a substantial marine insurance practice. Comparable to RedSky as a marine specialty underwriter serving brokers globally, though at materially larger scale.
• Hiscox: Lloyd's-affiliated specialty insurer with marine, cargo, and yacht offerings. Comparable to RedSky in the specialist marine and yacht space, though broader in product breadth and geography.

Regional players

• Honan Insurance Group: Australian specialty insurance broker and underwriting agency group with marine capabilities. Comparable as an Australian specialist underwriting/brokerage intermediary, though more broker-led than RedSky's pure-underwriting model.

Direct peers

• Tokio Marine Kiln: Lloyd's specialist insurer with a leading marine and energy book, operating as a syndicate at Lloyd's. Comparable to RedSky as a Lloyd's-aligned marine underwriting specialist with global broker distribution.
• Markel International: Lloyd's specialty insurer with a marine and energy practice. Comparable to RedSky as a Lloyd's Coverholder-aligned specialty marine underwriter offering cargo, hull, and yacht products via brokers.
• Agile Underwriting: Australian specialist underwriting agency from which RedSky's marine portfolio was acquired at launch. Directly comparable as a small, niche Australian underwriting agency distributing marine and specialty lines through brokers.

Market position

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/redskyinsurance
• LinkedInlinkedin.com/company/redsky-insurance-pty-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 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 Redsky Insurance