Following on from our recent news article, Swiss Re International SE, trading in Australia as Swiss Re Corporate Solutions, have just announced that following their decision to exit the aviation insurance market, agreement has now been reached with 360 Aviation Pty Ltd to allow them to review local risks falling due on or after 1 November 2019 with a view to offering terms for new replacement policies issued by a new insurer following the expiry of existing Swiss Re issued policies.
Swiss Re will discontinue offering new and renewal general aviation business and not offer renewals of any business falling due on or after 1 November 2019.
360 Aviation, an authorised representative of 360 Underwriting Solutions Pty Ltd (AFSL 319181), is an underwriting agency specialising in Aviation Insurance.
In news released overnight, MS Amlin have announced they will be exiting from nine business areas including aviation to focus on higher-margin markets in its latest attempt to turn around its underwriting performance – full details are outlined in the following press release.
As always Aerosure will continue to keep our clients fully informed of further updates and solutions where required, however should you have any immediate queries please do not hesitate to contact us.