Aerospace
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Vine will report to Jason Klevens and joins the intermediary’s Houston operation.
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General aviation and space are the latest sectors to be targeted in the division’s overhaul. -
Oyin Heath will join Mark Costin at BGC’s new aerospace insurance broking operation.
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Tarling returns to MMC after a spell working at aerospace giant Boeing.
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Former Willis global aviation chairman with experience at Marsh and JLT joins start-up.
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The combined claims are likely to cost the market in excess of $1bn.
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The broker said the product will help underwriters analyse their portfolios.
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The executive is the latest senior broker to exit JLT's aerospace division following AJG’s acquisition of the business segment.
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The renewal follows the downing of a Lion Air 737 jet in October last year.
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They face a Herculean task but the two start-ups could break the stranglehold of MMC, Willis and AJG in the aviation market.
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The loss will erode margins in the market, which reported new business of just $350mn in 2018.
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In its Plane Talking report, the broker noted that rate growth in the aviation sector accelerated in the second quarter.
