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Convex backs launch of new MGA for Advanced Air Mobility sector

27th March 2023 - Author: Jack Willard

Newly-incorporated, London-based firm, Skyrisks Limited is preparing to launch as a managing general agent (MGA) pioneering comprehensive insurance products for the Advanced Air Mobility (AAM) sector, in partnership with Convex Group Ltd.

convex-logoThe partnership between the two companies will address the fast-growing insurance needs of the AAM sector.

In a press release, it notes that AAM businesses will have diverse insurance needs, which will include hull all risks, third party liability, passenger & crew liability, premises, products & hangarkeepers liability, as well as other coverages too.

Moreover, Skyrisks has also appointed Alistair Blundy, a specialist Aviation Underwriter with Allianz Global Corporate & Specialty (AGCS), as Chief Executive Officer upon completion of his tenure at AGCS.

Blundy, said: “The vast majority of AAM aircraft are zero-emission and exceptionally versatile, providing a cleaner, faster, quieter, and more affordable alternative to conventional platforms. Skyrisks is committed to driving global sustainability action in aviation, which today accounts for 2% of global emissions.”

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Michael Hansen, Head of Aerospace at Convex, added: “Tackling the enormous challenges of sustainability and safety in aviation are among the greatest responsibilities of the insurance market. It will take a data-driven specialist such as Skyrisks to underwrite the risk from the ground up with coverages tailored for the needs of the AAM ecosystem.”

Once the company is fully operational, Skyrisks aims to achieve a market leadership position by providing innovative risk management to the AAM sector through the development of bespoke policy forms and coverages, granular pricing models, and proactive targeted underwriting appetite.

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