 |
|
 |
|
|
 |
|
Media Releases |
|
|
7/03/2008, General Aviation and Assetinsure enter new underwriting agency agreement
SYDNEY, March 7, 2008. General Aviation Underwriting (GA) has entered a new aviation underwriting agency agreement with Assetinsure Pty Ltd, replacing the previous agreement with AIG Europe (UK).
The agreement takes effect on March 14, 2008.
GA, as a wholly owned subsidiary of the Stardex Insurance Group, is committed to providing continuity of the specialist service and local underwriting capability for which GA is known. Stardex Chief Executive Officer Bob Lee said after evaluating alternative insurer options, including a new Australian market entrant, he believed the best solution for the GA business was a new agency partnership with Assetinsure Pty Ltd.
“To ensure continuity of first-class service to brokers and clients, the agreement between Assetinsure and GA will see not only underwriting being performed in Australia, but also claims. Brendan Warner, who has worked in aviation insurance and reinsurance since 1978, will lead the Assetinsure and GA aviation team,” Mr Lee said.
For the past 12 years, Mr Warner has been successfully underwriting Australian, New Zealand and Asia Pacific aviation risks. He is based in Melbourne, but will also use GA’s Brisbane offices extensively.
Mr Lee said Mr Warner would contact all brokers with clients whose GA policies expire on or after March 14 to give them details of placement options and how GA can assist them with ongoing service.
“GA is proud of the market position and reputation it has built in the Australian aviation insurance market. It is unfortunate that sometimes there is a commercial need for us to change our insurer principals. In doing so however, GA, in conjunction with Assetinsure, is determined to maintain and enhance the specialist service in underwriting and claims capabilities for its brokers and their clients into the future,” he said.
Mr Lee said the arrangement was based upon a clear alignment of interests and the Stardex Group would actively support the new business partnership with Assetinsure and assist in any way required, through marketing and administrative support, to promote an effective, smooth transition of the business.
Gregor Pfitzer, Chief Operating officer of Assetinsure, said: “In partnering with Stardex and GA, Assetinsure is broadening its services to aviation clients. This is in accordance with our strategy to increase our footprint in specialist markets.”
FOR FURTHER INFORMATION, PLEASE CONTACT:
Bob Lee, Chief Executive Officer, Stardex Insurance Group Holdings Pty Ltd, phone (02) 8235 1043
Gregor Pfitzer, Chief Operating Officer, Assetinsure Pty Ltd, phone (02) 8274 2832
Released by: Kate Tilley, KT Journalism, Brisbane, phone (07) 3831 7500 or 0418 741606
About Assetinsure
Assetinsure is a general insurer licensed by APRA and is 50% owned by Babcock and Brown (an ASX-listed company). Assetinsure specialises in underwriting selected commercial product lines, including financial risks, professional indemnity, directors & officers' liability cover, aviation, industrial special risks, construction and engineering insurance to predominately middle market and corporate buyers. Assetinsure has been authorised by APRA since February 2004.
About the Stardex Insurance Group
Stardex Insurance Group Holdings Pty Ltd brings together specialist underwriting agencies, creating a constellation of insurance expertise in the Australian market. The Stardex Group companies are all specialists in their respective niche markets. The Stardex Insurance Group combines eight leading underwriting agencies, Dexta Corporation Pty Ltd, MB Insurance Group Pty Ltd, Agricola Underwriting Management Pty Ltd, Pacific Underwriting Pty Ltd, Macquarie Underwriting Pty Ltd, SLE Worldwide Australia Pty Ltd, Inbroke Ltd (NZ) and General Aviation Underwriting Pty Ltd.
About General Aviation Underwriting
General Aviation specialises in hull and liability cover for fixed and rotary wing aircraft, aerospace liability for airports and airfields, aviation products and component manufacturers, ground and ramp handlers, airside contractors and construction works, refuelling, and hangar keepers’ liabilities.
|
|
|
|
|
