XL Catlin launches specialty aviation insurance in Mexico
Re/insurer XL Catlin has launched its specialty aviation insurance offering in Mexico. The new product suite will initially focus on general aviation hull and liability risks.
The new offering in Mexico will concentrate on underwriting jets, some turbo-propelled aircraft and helicopters, with a maximum age of 28 years. The new product will offer broad coverage locally in standard policies along with complementary endorsements through global and national insurance brokers.
"As a leading market for specialty insurance we are relentlessly focused on strengthening our capabilities and product offering," said Pablo Crain, country manager, XL Catlin, Mexico.
"XL Catlin today is one of the leading aviation insurers in the world. We have a team of experts with a wealth of experience in the US, Canada and in Latin America who are ready to work hand in hand to support the needs of our clients and partners."
Juan Pablo Caso, client distribution leader for XL Catlin, Mexico added: "With consistent increases in passenger traffic and aging fleets, Mexico's general aviation sector is poised for growth. This is a great opportunity for a seasoned aviation underwriter like XL Catlin to enter the market. The major manufacturers of business aircraft all have production and service centres in Mexico. Another sign pointing to ongoing demand is the planned 2018 expansion by the country's leading business aviation companies and their fleet of fractional-ownership jets."
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