Global insurer Chubb has entered into a definitive agreement to acquire Catalyst Aviation Insurance, a Melbourne-domiciled managing general agent (MGA) specialising in general aviation insurance for the Australian market.
The transaction is expected to be completed on or about the end of June and is subject to regulatory and other closing conditions. The financial terms of the transaction were not disclosed.
The acquisition was designed to provide continuity for clients and distribution partners. Brendan Warner, currently, the Managing Director of Catalyst, will continue to lead underwriting for the aviation business in Australia.
This strategic addition aims to expand Chubb’s presence in an important aviation market, providing local market access for brokers and clients.
Peter Kelaher, Country President, Australia and New Zealand, Chubb commented, “Catalyst Aviation has built a strong reputation in the general aviation market in Australia, and I’m pleased to be welcoming the team to Chubb.
“This acquisition further strengthens our position as an insurer of choice for brokers and clients in the local market, expanding our capabilities and expertise in the aviation sector.”
Along with this, the acquisition according to Chubb will help in expanding the reach of the aviation insurance products and capabilities of Chubb Global Markets, the company’s London Market wholesale and specialty business including its Lloyd’s platform.
Simon Abbott, Head of Aviation, Chubb Global Markets, concluded, “Catalyst Aviation’s underwriting approach and emphasis on sustainable results closely align with Chubb’s culture and business.
“Catalyst Aviation also complements our existing aviation operations, from Chubb Global Markets in London to the aviation hub we established in Singapore in 2023. Backed by Chubb’s brand, distribution capabilities and financial strength, the Catalyst team is well positioned to expand our risk capacity and risk appetite in the Australia and New Zealand markets.”
