Rokstone Aviation has confirmed additional capacity through Malaysian Re under which it is able to write more hull and liability policies.
According to the firm, the new line sizes are $5m for hull and $50m for liability.
It said in a statement: “The agreement is a clear vote of confidence in our Aviation proposition, who have been doing an excellent job launching the line and running the portfolio. After a number of difficult years in the Aviation market, including some heavy losses, there has been a restriction of capacity from risk carriers. This has created a hard market. However, with the right people at the helm, and a clear strategy of writing a diverse selection of quality risks we have shown that Aviation is still an attractive line that can generate an underwriting profit.”
It added that the new capacity would be welcome by brokers and clients, and would let it continue growing its proposition.
Rokstone Aviation was launched in 2020 with a $50m A-rated capacity. It is an offshoot of Rokstone Underwriting, a specialist MGA that underwrites $125m GWP in several specialty lines including marine, terrorism & political violence, direct & facultative property, treaty property, construction & engineering, and liability.
The division is led by Wayne Murphy, who has almost 30 years’ experience in the global re/insurance market, specialising in aviation and aerospace.
Prior to joining Rokstone, Wayne was Head of Aviation at Trust Re and has held senior leadership roles in several large re/insurers, including 11 years at Swiss Re Corporate Solutions where he was Global Head of General Aviation & Aerospace.
