Insurance and reinsurance brokers Marsh have named senior leaders for its newly launched aviation insurance consortium, the Aircraft Finance Insurance Consortium (AFIC).
The consortium, which is backed with capacity from four major re/insurance players, Allianz, AXIS Capital, Sompo International (formerly Endurance), and Fidelis, will offer a “unique non-payment insurance product” created for banks and capital market investors that are involved in aircraft financing.
Marsh has hired aircraft finance specialist Robert Morin as Transaction and Business Development Leader for AFIC, as well as Gabriel Okolski who will be a Credit and Financial Analyst. Both will be based in Washington, D.C.
Morin and Okolski both join Marsh from the Export-Import Bank of the United States (EXIM Bank).
Morin was Senior Vice President of Business and Product Development at EXIM Bank since 2014 and is a recognised leading authority in the global aircraft finance industry. In his twenty years at EXIM Bank he oversaw the expansion of its aircraft financing programme.
Okolski was a Senior Transportation Loan Officer responsible for over $3 billion in large commercial aircraft and helicopter financing deals for airlines, aircraft leasing companies, and other corporate entities. Before is time with EXIM Bank, Okolski worked for the U.S. Department of Transportation as a Transportation Industry Analyst for two years.
Bruce Fine, Global Leader of AFIC for Marsh, commented on the appointments; “AFIC is a significant development in the diversification of aircraft finance globally. We’re delighted to have people of Bob and Gabe’s calibre, both of whom have done seminal work in the convergence of airplane risk capital, law, regulation and loan protection, join our team and take AFIC to the next stage of its development.”