Chubb will acquire Melbourne-based Catalyst Aviation Insurance, a managing general agent that specialises in general aviation cover for the Australian market.

The global insurer says the acquisition will expand its presence in an “important” aviation market, providing local market access for brokers and clients. It will also extend the reach of aviation insurance products and capabilities at Chubb Global Markets, the company’s London market wholesale and specialty business including its Lloyd’s platform.

“Catalyst Aviation has built a strong reputation in the general aviation market in Australia, and I’m pleased to be welcoming the team to Chubb,” Australia and New Zealand president Peter Kelaher said. “This acquisition further strengthens our position as an insurer of choice for brokers and clients in the local market, expanding our capabilities and expertise in the aviation sector.”

Chubb has not disclosed the deal’s financial terms. It expects to complete the purchase about the end of this month, subject to regulatory and other closing conditions.

It says the acquisition aims to provide continuity for clients and distribution partners.

Catalyst MD Brendan Warner will continue to lead underwriting for the aviation business in Australia.

“Catalyst Aviation’s underwriting approach and emphasis on sustainable results closely align with Chubb’s culture and business,” Chubb Global Markets head of aviation Simon Abbott said.

“Catalyst Aviation also complements our existing aviation operations, from Chubb Global Markets in  London to the aviation hub we established in Singapore in 2023. Backed by Chubb’s brand, distribution capabilities and financial strength, the Catalyst team is well positioned to expand our risk capacity and risk appetite in the Australia and New Zealand markets.”