Insurer Core Specialty has announced it has completed the acquisition of London Aviation Underwriters, Inc. (LAU) in an undisclosed transaction.
founded in 1980 by Michael E. Charlesworth, LAU handles general aviation risks, airport premises liability, and non-owned aircraft liability throughout the US.
This transaction brings the company into Core Specialty’s aviation and aerospace division. This addition represents Core Specialty’s 18th specialty business unit and expands their Fronted Programs subsegment.
All LAU employees have now become part of Core Specialty, effective January 1, 2025. Jeff Sutton was appointed to lead the Aviation & Aerospace Division as President.
According to the announcement, the division will continue to use the LAU brand and StarStone National Insurance Company will continue to be the policy issuing carrier.
Jeff Consolino, Core Specialty’s Founder, President, and Chief Executive Officer, commented: “Completing the acquisition of LAU, and adding our 18th specialty business unit, advances our goal of becoming the leading specialty insurer.
“LAU has historically been our exclusive source of Aviation business and produced $44 million in gross premiums written in 2024. We believe with our capital and balance sheet strength, and their industry knowledge, we will create future growth and opportunity in the aviation and aerospace market.”
