Aerospace
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The executive had headed the unit since 2016 after joining from AIG’s aerospace business. -
Both NFP and Piiq’s soon-to-be owner Ardonagh are part-owned by Madison Dearborn, which has invested heavily in P&C broking over the past decade.
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With around 50 members of staff across the business, the divestiture is not expected to significantly alter the competitive landscape.
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United Airlines’ all-risks policy could face liability claims, while the Pratt & Whitney policy could see a partial grounding claim.
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Despite the grounding of multiple Boeing 777 planes, the incident is unlikely to result in another claim from Boeing, sources said.
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The intermediary's disclosure confirms the end of a process that began with dawn raids in the UK almost four years ago.
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Lamont Rosemond and Joshua Ray have taken up new leadership roles within the carrier’s North America aviation business.
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The reinsurer has around a 20% line on the broadcaster’s policy, with Willis Towers Watson acting as the broker.
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Bruno takes leading role in the MGA’s general aviation team.
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Alex Barker returns to the carrier after a spell working as an aviation insurance broker at Marsh.
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The carrier has placed its book of primary business into run-off but will continue to write space reinsurance.
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The change comes ahead of the renewal in December of the Willis Towers Watson-brokered cover.
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