Home / Corporate / 360 Aviation announces Swiss Re deal
21 October 2019
Underwriter 360 Aviation has secured the rights to review Swiss Re Corporate Solutions’ expiring general aviation business.
As insuranceNEWS.com.au previously reported, Swiss Re Corporate Solutions carried out a review of its Australian aviation operations as part of efforts to improve profitability, sparking concerns about a lack of capacity in the market.
Now 360 Aviation, part of 360 Underwriting Solutions, has reached an agreement to review expiring risks due on or after 1 November, and appointed two members of Swiss Re staff.
Peter Freeman, Head of Aviation Australia and New Zealand, will join 360 as National Underwriting Development Manager, and Sharyn Gough also moves across as Senior Underwriter for the 360 Aviation team in Brisbane.
“This is a very exciting step,” Executive Director for 360 Aviation Craig Davie said.
“We are committed to delivering solutions to insureds in the shrinking domestic marketplace, and we look forward to providing protection wherever possible.”
Co-founder and 360 Director Denis Morrissey says Mr Davie has “worked tirelessly” to establish and grow 360 Aviation over the past year.
“The exit of [Swiss Re Corporate Solutions] has provided 360 with an opportunity to further expand our aviation portfolio, and we are delighted to be able to complement our growing list of products, to be more relevant to our broker partners,” he said.
Swiss Re says the agreement was reached following “a thorough business review”.
“It was a good solution,” a spokesman told insuranceNEWS.com.au. “It’s good that 360 can step in and offer capacity to the customer base and brokers.”