Allianz Commercial partners with MGA over aviation war facility

Managing general agent (MGA) Hive Underwriters has teamed up with Allianz Commerical to underwrite aviation war risks, a statement released yesterday (4 October 2023) said.

The deal will see the two firms form a new facility that will underwrite hull war and excess third-party war liabilities (XS AVN52) classes.

To do this, the facility will receive capacity from Allianz Commercial and use Hive’s analytics and exposure management systems to measure risk.

Tom Fadden, global head of aviation at Allianz Commercial, said: “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.”

Growth

Hive is now in its sixth year of trading and underwrites a varied aviation account on behalf of a panel of Lloyd’s syndicates and insurance companies.

Its offering includes a proprietary risk mapping and analytics model, harvesting multiple data feeds to track, monitor and assess threats.

Chief underwriting officer Bruce Carman said it teamed up with Allianz Commercial as it was ”looking to enhance its suite of data analytics”.

“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,” Carman added.

”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.”