AGCS promotes Mike Hansen to global head of aviation

AGCS promotes Mike Hansen to global head of aviation

AGCS promotes Mike Hansen to global head of aviation

Allianz Global Corporate & Specialty (AGCS) has named Mike Hansen as global head of aviation, effective immediately. He takes over from Henning Haagen, who was appointed northeast zone executive for North America earlier this year and has been managing dual responsibilities in the interim. Mr Hansen, who currently oversees the North American aviation business of AGCS, will relocate from Canada…

Cleared for takeoff?

Cleared for takeoff?

Cleared for takeoff?

Slow growth and excess capacity keeps aviation insurance on the runway for now, reports Gareth Stokes To get a handle on the risks covered by aviation insurers, one need only turn to JLT Speciality’s November 2016 Plane Talk newsletter. The risk specialist, part of the Jardine Lloyd Thompson Group, published the average fleet values (expiring AFV at renewal date) of…

JLT Re lands aviation duo from Lockton

JLT Re lands aviation duo from Lockton

JLT Re lands aviation duo from Lockton

JLT Re has appointed Graham Barden and Jon Warner to its aviation team as partners. Mr Barden has worked at Bradstock’s, Alexander Forbes and most recently he was managing partner of aviation at Lockton. Mr Warner also joins from the Lockton aviation team, where he was a senior vice president; previous to that, he was at Aon Risk Solutions and…

AWAC to offer drone training to its clients

AWAC to offer drone training to its clients

AWAC to offer drone training to its clients

Clients of Swiss-based specialty insurer Allied World Assurance Company Holdings (AWAC) in the US can now get help with deploying their own drones. AWAC has announced that it is expanding risk management offerings to policyholders, to include access to discounted unmanned aerial systems (UAS) services. AWAC has partnered with DataWing, a UAS service provider led by former US Air Force…

City watchdog raids aviation brokers in antitrust probe

City watchdog raids aviation brokers in antitrust probe

City watchdog raids aviation brokers in antitrust probe

The Financial Conduct Authority (FCA) has launched an antitrust investigation into the aviation insurance broking sector. The Financial Times said last week that the City watchdog had made dawn raids on a number of big aviation brokers, as part of a probe into whether they improperly shared confidential client information. The newspaper said the FCA seized computers and information from…

Lloyd’s opens in India as results suggest tough renewals ahead for risk managers

Lloyd’s opens in India as results suggest tough renewals ahead for risk managers

Lloyd’s opens in India as results suggest tough renewals ahead for risk managers

Lloyd’s has officially opened its India branch and welcomed MS Amlin as its first underwriting syndicate. The ceremony, which took place on 1 April, was witnessed by UK Chancellor Phillip Hammond and Lloyd’s chairman John Nelson. The new branch, which will act as the domestic reinsurance branch for India, will “help Indian insurance firms increase the resilience of the Indian economy…

Lloyd’s continues expansion but must watch combined ratios and reserves

Lloyd’s continues expansion but must watch combined ratios and reserves

Lloyd’s continues expansion but must watch combined ratios and reserves

If the Lloyd’s insurance market is a decent yardstick for the state of the international commercial and specialty insurance and reinsurance market, then its recently published annual results suggest that risk and insurance managers worldwide need to brace themselves for tougher renewals in future. The market revealed numbers last week that showed a big jump in gross premiums written, up…

Willis Towers Watson launches cyber product for global airlines

Willis Towers Watson launches cyber product for global airlines

Willis Towers Watson launches cyber product for global airlines

Willis Towers Watson has introduced CyFly, an insurance product specifically tailored to cover cyber exposure affecting the airline industry. The recent Willis Towers Watson Industry Risk Index identified failure of critical IT systems as the most significant risk facing the global aviation industry. Airlines are exposed to significant financial and reputational damage in the event of a network incident caused…

Space insurers pleased to see successful second-hand rocket launch

Space insurers pleased to see successful second-hand rocket launch

Space insurers pleased to see successful second-hand rocket launch

SpaceX, the California-based rocket launch company run by entrepreneur Elon Musk, has successfully re-flown a segment from one of its Falcon 9 rockets – much to the relief of space insurers. The first-stage booster, which had already been used on a mission 11 months ago, sent a telecommunications satellite into orbit from Florida’s Kennedy Space Center this week. Usually, such…

Commercial drone use to soar in the US, FAA predicts

Commercial drone use to soar in the US, FAA predicts

Commercial drone use to soar in the US, FAA predicts

The US commercial, non-hobbyist drone (or Unmanned Aircraft Systems) fleet is forecast to grow from 42,000 at the end of 2016 to about 442,000 aircraft by 2021, with the possibility of as many as 1.6 million UAS in use by 2021, according to the Federal Aviation Administration. Pilots of commercial UAS vehicles are expected to increase from 20,000 at the…

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