Aerospace

Widening coverage is likely to leave more insurers on the hook for aerospace manufacturing claims.

The carrier will assume responsibility for WRB’s entire aviation book, which includes US and European business.

The portfolio is understood to include a range of airline and hull deductible risks.

The carrier has already added teams in downstream energy, power, and aviation deductibles over the past nine months.

The jet engine manufacturer has an aggregate policy limit of $500mn.

This publication understands Aspen will either look to strike renewal rights deals on the aviation, marine hull and international professional indemnity books, or put them into run-off.

The claim relates to the failure of a seal on Pratt & Whitney’s PW1100G engine, which is used in the A320neo airliner.

The executive will manage the line of business outside Canada and the US.

The claim could comprise a quarter of the aviation hull war premium pot.

Senior underwriter Fergus Fergusson will take over following the departure of Donnacha Smyth to XL Catlin.

While most aviation accounts achieved single-digit rate rises, wordings for manufacturer’s liability policies have loosened.

JLT’s Plane Talking report finds rates holding steady.