Aerospace
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The market is becoming more of a buyers’ market as new capacity arrives.
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Some airline accounts registered rate decreases as competition ramped up towards the end of 2021, according to the broker.
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An Ascot-led consortium will be launched at Lloyd’s, offering a variety of space cover.
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Greg Rector, managing director of Aerosure, will become MD of Willis’ Australasia aviation division.
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The product launch is the latest in a series of market entries for the expansive business.
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Chubb has promoted Emma Walker to the head of aerospace role for Chubb Global Markets, giving her responsibility for managing and developing the carrier’s global aerospace portfolio.
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The aviation veteran worked for Axa XL for almost two decades.
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The underwriter has spent 20 years in aviation underwriting with Catlin and Beaufort.
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Willis Towers Watson has won three new airline clients from Marsh, Insurance Insider can reveal, marking a string of victories for the broker’s global aerospace unit after a period of uncertainty.
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The Richard Brindle-led carrier has undergone a major expansion in specialty lines.
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The latest Plane Talking report also highlights that The Hartford and Inigo are finalising preparations to enter the airline market.
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The business has seen a number of senior staff in specialty lines exit recently.
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