News Non-Life11 Jun 2024

Australia:Chubb to acquire general aviation insurance specialist

| 11 Jun 2024

Chubb has entered into a definitive agreement to acquire Catalyst Aviation Insurance, a Melbourne-based managing general agent that specialises in general aviation insurance for the Australia market.

In a statement, Chubb said that the addition of Catalyst Aviation would expand the group’s presence in an important aviation market, providing local market access for brokers and clients and expanding the reach of the aviation insurance products and capabilities of Chubb Global Markets, the company's London Market wholesale and specialty business including its Lloyd's platform.

The acquisition was designed to provide continuity for clients and distribution partners. Catalyst Aviation managing director Brendan Warner will continue to lead underwriting for the aviation business in Australia.

Financial terms of the transaction were not disclosed. The transaction is expected to be completed on or about the end of June and is subject to regulatory and other closing conditions.

"Catalyst Aviation's underwriting approach and emphasis on sustainable results closely align with Chubb's culture and business," said Chubb Global Markets head of aviation Simon Abbott. "Catalyst Aviation also complements our existing aviation operations, from Chubb Global Markets in London to the aviation hub we established in Singapore in 2023. Backed by Chubb's brand, distribution capabilities and financial strength, the Catalyst team is well positioned to expand our risk capacity and risk appetite in the Australia and New Zealand markets."

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