Allianz Commercial, MGA Hive team up on aviation war facility
Hive Underwriters, a Lloyd’s coverholder and MGA specialising in aviation hull war insurance, and Allianz Commercial have partnered on an underwriting facility for aviation war risks.
The new partnership to underwrite aviation hull war and excess third-party aviation war liabilities (XS AVN52) classes. Leveraging capacity from Allianz, the facility utilises Hive’s risk analytics and exposure management systems.
Hive underwrites a varied aviation account on behalf of a large panel of Lloyd’s syndicates and insurance companies, each with first-class (A+ S&P rated) security. It has developed a proprietary risk mapping and analytics model, harvesting multiple data feeds to track, monitor and assess threats allowing it to optimise each of the portfolios underwritten.
Bruce Carman, chief underwriting officer at Hive, said: “Hive is continually looking to enhance our suite of data analytics to take advantage of the fast-moving technological advancements in the sector. We have a laser-like focus on developing best-in-class analytics, ensuring the Hive team are well equipped to procure and optimise the portfolio.
“Since our formation in 2017, Hive has underwritten on behalf of several of the market’s leading carriers, from both Lloyd’s and company sectors. It is an honour to now add Allianz to our panel, a company with a rich history as a market leader in the Aviation Hull and Liabilities market. We look forward to working with Allianz and aiding the growth of a premium War account in the coming months.”
Tom Fadden, global head of aviation, Allianz Commercial, added: “I am delighted to announce that we will be working with HIVE to offer War coverages and further enrich our market-leading offering to clients. It demonstrates Allianz Commercial’s commitment to Aviation as a strategic area of our business. Hive’s proven track record as a leader in that segment and their best-in-class tools and underwriting expertise will help us to provide the high-quality products and solutions our clients expect from us.”
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