New aviation MGA prepares for launch with Convex backing & Allianz expert
Specialty re/insurer Convex Group has backed Skyrisks, a newly formed London-based managing general agent (MGA) designed to address the insurance needs of the advanced air mobility (AAM) sector.
Skyrisks is preparing to launch as managing general agent offering comprehensive insurance products for AAM businesses in partnership with Convex, having hired a specialist aviation underwriter with Allianz Global Corporate & Specialty (AGCS).
AAM businesses have diverse insurance needs including hull all risks, third party liability, passenger & crew liability, premises, products & hangarkeepers liability, and other coverages.
The company believes the AAM sector embodies the future of aviation, leveraging revolutionary new aircraft, such as the new breed of electric vertical takeoff and landing (eVTOL), and a broad array of innovative technologies to ensure the safe, quick, affordable and sustainable movement of people and goods.
Skyrisks has appointed Alistair Blundy, a specialist aviation underwriter with Allianz Global Corporate & Specialty (AGCS), to chief executive officer upon his completion at AGCS.
Skyrisks said it will seek to achieve a market leadership position once it is fully operational by providing innovative risk management to the AAM sector through development of bespoke policy forms and coverages, granular pricing models, and proactive targeted underwriting appetite.
Blundy said: “The vast majority of AAM aircraft are zero-emission and exceptionally versatile, providing a cleaner, faster, quieter, and more affordable alternative to conventional platforms. Skyrisks is committed to driving global sustainability action in aviation, which today accounts for 2% of global emissions.”
Michael Hansen, head of aerospace at Convex, said: “Tackling the enormous challenges of sustainability and safety in aviation are among the greatest responsibilities of the insurance market. It will take a data-driven specialist such as Skyrisks to underwrite the risk from the ground up with coverages tailored for the needs of the AAM ecosystem.”
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