Aviation the focus for new XL Catlin operation in Mexico
XL Catlin has announced that it will offer specialty aviation insurance in Mexico, initially focussing on general aviation hull and liability risks.
“As a leading market for specialty insurance we are relentlessly focused on strengthening our capabilities and product offering,” said Pablo Crain, Country Manager, XL Catlin, Mexico. “XL Catlin today is one of the leading aviation insurers in the world. We have a team of experts with a wealth of experience in the US, Canada and in Latin America who are ready to work hand in hand to support the needs of our clients and partners.”
XL Catlin has underwritten aviation insurance for many years and underwrites general aviation risks worldwide. The company said that with an established presence in Latin America and aviation teams in Brazil, the United States and Canada, expanding in Mexico is the next step to help general aviation customers manage risk and keep moving forward.
Juan Pablo Caso, client distribution Leader for XL Catlin, Mexico added: “With consistent increases in passenger traffic and aging fleets, Mexico’s general aviation sector is poised for growth. This is a great opportunity for a seasoned aviation underwriter like XL Catlin to enter the market. The major manufacturers of business aircraft all have production and service centres in Mexico. Another sign pointing to ongoing demand is the planned 2018 expansion by the country’s leading business aviation companies and their fleet of fractional-ownership jets.”
According to XL Catlin it now offers a comprehensive suite of aviation insurance options, including multi lines within aviation for individual clients. The new offering in Mexico will concentrate on underwriting jets, some turbo-propelled aircraft and helicopters, with a maximum age of 28 years. The new product offers broad coverage locally in standard policies along with complementary endorsements through global and national insurance brokers.