CNA Hardy quits aviation

CNA Hardy has confirmed that it will cease underwriting aviation following a review of its current book of business.

“A review of our current book of aviation business confirmed that to maintain relevance and achieve a balanced portfolio we would need to grow our account significantly,” said a spokesperson for the company.

“Given challenging market conditions and the availability of capacity, it is apparent that we will struggle to increase market share whilst building a profitable book of business. In addition, the firming of rates and terms and conditions hasn’t materialised to the degree we hoped.”

CNA Hardy plans to re-invest capital and re-deploy the resources to other lines of business that it believes offer greater opportunities for profitable growth.