Effective 1 May 2010, Assetinsure is expanding its aviation underwriting team consisting now of Brendan Warner, Katrina Parker, Jenny Choi, Peter Freeman and Peter Lyon.

Since 2005 Assetinsure has been writing aviation insurance as an APRA licensed insurance company. The company has established a strong reputation for professional and knowledgeable service.

In a step designed to enhance this reputation with indisputable financial security, Assetinsure has entered into a partnership with the Australian Branch of Swiss Re International SE (SRI), an APRA authorised insurer, to write aviation insurance. SRI is a member of the Swiss Re Group, with Standard & Poor’s A+ rating. Swiss Re has been a major insurer of commercial, corporate risks and specialty lines (including general aviation) in Asia Pacific for more than 20 years through partnerships and pools.

The aviation department of Assetinsure will operate from 1 May 2010 as a managing general agent for SRI writing aviation insurance on behalf of SRI. Assetinsure’s operations in other classes of insurance remain unaffected by this development.

The first Swiss Re policies will be issued by Assetinsure from 1 May 2010.

Additionally, Vero one of Australia’s largest intermediated general insurance companies, has agreed to refer the majority of its aviation portfolio to Assetinsure and SRI upon renewal from 10 June.

Vero will maintain a team to ensure continuity and a seamless referral process and some other members of the Vero aviation underwriting team will join Assetinsure to serve the referred client
portfolio.

All affected Vero customers will remain covered in accordance with the terms and conditions of their current Vero policy.

This agreement and the expansion of Assetinsure’s team of aviation underwriting experts will provide customers with a broader product offering, backed by the financial strength of the Swiss Re Group.

For Assetinsure, this venture is a natural progression of our partnership business model, which is based on our specialist underwriting expertise and our ability to share in carrying risk in each transaction through reinsurance. In partnering with Swiss Re, we jointly offer our customers indisputable security, plus depth and breadth in product delivery.