Bermuda markets establish Asian aviation consortium
Four Bermuda market participants have launched an aviation consortium based out of Lloyd’s Asia that will write aviation insurance and reinsurance for the Asia Pacific and Middle East.
Catlin Singapore will lead the consortium, alongside Amlin Singapore, Talbot Singapore (Validus’ Lloyd’s syndicate) and Argo Global Underwriting Asia Pacific.
The consortium will offer coverage for general aviation risks, providing 100 percent capacity for small aircraft with up to 50 seats.
The consortium will offer the market a dedicated underwriting and claims team, which will help to streamline the pricing and signings process, says Catlin, with participants only having to deal with a single team.
Commenting on the new consortium, Bobby Heerasing, chief underwriting officer of Catlin’s Asia-Pacific underwriting hub, says: "With the General Aviation Consortium, brokers and cedants can enjoy an enhanced and highly competitive product offering through a convenient single point of contact, combined with the benefit of Lloyd's 'A' rated security."