Specialist reinsurance brokerage Capsicum Re has announced the launch of a new aviation reinsurance team led by David Bell, who will be based in London.
Bell joins with 36 years of aviation industry experience and began his career at C.T.Bowring before joining Aon in 1999.
In 2016 he joined AIG as Global Head of Aerospace where he was responsible for underwriting and business strategy across all aviation business lines including space.
Bell is based in London and reports to Matt FitzGerald, Managing Partner of the London Property and Specialty division.
“2019 was a challenging year for the aviation market having suffered from years of declining rates and notable loss activity,” said FitzGerald.
“However, there were also a number of positive developments: our joint venture partner Gallagher acquired JLT’s global aerospace division, there were a number of new entrants into this class as well as exits and there is an upwards pricing momentum in the aviation market.
“We are entering this market as we see an opportunity to bring our client focused, holistic entrepreneurial approach to this sector.
“I’m thrilled to welcome David to Capsicum Re. He is one of the leading aviation experts and his extensive knowledge and experience will be incredibly beneficial as we grow this part of our division”.
Commenting on his appointment, Bell said, “Capsicum Re’s growth from a start up to the world’s fifth largest reinsurance broker in just six years has been incredibly impressive.
“It’s a dynamic, entrepreneurial and ambitious broker and I look forward to working with the team to develop its aviation reinsurance offering.”