Reinsurance News

Your search for “aviation”

Challenging times for aviation, specialty lines remain attractive to reinsurers: Aon’s Skilton

21st March 2023

Aviation lines face challenging reinsurance renewals in 2023, yet specialty lines continue to provide reinsurers with opportunities, according to Aon’s Global Head of Specialty and Aviation, Mark Skilton. Having experienced complex and challenging reinsurance renewals on January 1st, aviation insurers face an uncertain market in 2023, a trend that according to ... Read the full article

Will Green to lead aviation war risks at TMK

8th March 2023

Global specialist insurance company Tokio Marine Kiln (TMK) has announced the appointment of Will Green as Divisional Head of War within its aviation underwriting team. His appointment marks the creation of a dedicated aviation war team for TMK, following many years writing this class. The insurer notes that a dedicated team will ... Read the full article

Aviation market had “most challenging renewal” in over two decades: Aon

6th February 2023

Analysts at Aon have said that the aviation market experienced its most challenging renewal in over two decades at 1/1, with significant rate increases and coverage restrictions. In a new report on January reinsurance market dynamics, the broker noted that insurers with reinsurance renewals in 2023 face an “uncertain market”, with ... Read the full article

Peter Schmitz joins EPIC Aviation Practice

24th January 2023

EPIC Insurance Brokers and Consultants (EPIC), a retail property and casualty insurance brokerage and employee benefits consultant, has appointed Peter Schmitz as Senior Executive, Aviation Practice. Schmitz joins EPIC at a time when inflationary pressures and shifts in private and commercial flight create new priorities for the aviation industry, the firm ... Read the full article

Aviation-focused investment manager Castlelake launches Bermuda reinsurer, Itasca Re

16th January 2023

Global, aviation-focused alternative investment manager, Castlelake, L.P., has established Itasca Re Limited in Bermuda, a new reinsurance company designed to provide insurance financing solutions to both buyers and owners of commercial aircraft assets. Castlelake specialises in asset-backed private credit, and has 17 years of experience investing in, financing, and managing aviation ... Read the full article

Arthur J. Gallagher acquires Aviation Insurance Australia

15th December 2022

Re/insurance broking firm Arthur J. Gallagher & Co have acquired Brisbane, Queensland-based Aviation Insurance Australia. Terms of the transaction were not disclosed. Founded in 1993, Aviation Insurance Australia is a specialist retail insurance broker that serves aviation and aerospace clients throughout the country. The brokerage website says the firm manages all aircraft types ... Read the full article

BOC Aviation sues 16 insurance companies over Russia losses

16th November 2022

BOC Aviation, a Dublin-based aircraft lessor, has begun legal action against 16 insurance companies, including Lloyd’s of London, Chubb European Group, AIG Europe and Swiss Re, over losses linked to Russia-Ukraine war, according to a Reuters report. The proceedings were issued in the High Court on November 3, 2022. In August, the ... Read the full article

TMK makes three new additions to its aviation team

9th September 2022

Specialist international insurer, Tokio Marine Kiln (TMK), has announced a number of high-profile appointments in the aviation team. According to the announcement, these appointments are part of a renewed drive in the sector under the direction of CUO Matthew Shaw and David Slevin, the departmental head who joined last year. Lisa Leahy ... Read the full article

HIVE names Jay Wigmore Class Underwriter for General Aviation

2nd September 2022

HIVE Underwriters, a London-based managing general agent (MGA), has announced the appointment of Jay Wigmore as Class Underwriter, as part of the company’s expansion into the General Aviation (GA) class. According to the announcement, in his new role, Wigmore will be responsible for building the GA portfolio at HIVE and will ... Read the full article

Everest Insurance names Paul Trueman Head of Aviation

24th August 2022

Everest Insurance, the primary division of Everest Re Group, has appointed Paul Trueman as Head of Aviation for its international business, a newly created role. In his new role, Trueman will lead the Airlines, Aerospace and General Aviation portfolio, responsible for overseeing underwriting, market engagement and treaty purchasing for the company’s ... Read the full article

Chubb announces new Senior Underwriter General Aviation for global markets

16th August 2022

Global insurer Chubb has announced the appointment of Martin Audis as Senior Underwriter General Aviation for Chubb Global Markets (CGM). Audis joins Chubb from Nexus Underwriting Limited, where he was a Senior Aviation Underwriter for six years. Before that, Martin was a Senior Aviation Underwriter at Starr Underwriting Agencies. In his new ... Read the full article

SterlingRisk Aviation hires Kris Larkin as Vice President 

15th July 2022

SterlingRisk Aviation has hired Kris Larkin as Vice President, Senior Account Executive. In her new role Larkin will oversee accounts and account personnel, provide comprehensive advisory expertise, and facilitate audits and inspections to identify and mitigate client risks. She will also coordinate and communicate with underwriters and claims ... Read the full article

Hayward Aviation rebrands as Gallagher

11th July 2022

Specialist general aviation broker Hayward Aviation is to rebrand as Gallagher this month. The firm had become part of Gallagher when the firm acquired Jardine Lloyd Thompson Group’s global aerospace operations in 2019. Guy Holland-Bosworth, CEO of General Aviation for Gallagher’s Aerospace Practice said: “We are very pleased to reach this ... Read the full article

Ukraine war aviation losses could be 7x more than WTC loss: Gallagher

8th July 2022

Analysts at global re/insurance broker Gallagher has reported that the ongoing Russia-Ukraine conflict could lead up to losses that are seven times than the final loss amount for the World Trade Center (WTC) attacks in 2001, and four times the initial WTC reserve. In the Q2 edition of its Plane Talking ... Read the full article

Russia’s invasion of Ukraine could cause 30-40% rises in aviation insurance

28th June 2022

Insurance coverage for the aviation sector could rise by 30 to 40 percent or more, according to a new report by CE Noticias Financieras. In addition, service providers are expected to tighten their screening policies to ensure that airport and aircraft operations are safe. Octavio Careaga, president of THB Mexico, an ... Read the full article