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Aviation book to be transferred to Elseco by Allied World

  • Publish Date: Posted about 7 years ago

Allied World has confirmed it is transferring its aviation book and underwriters to Elseco, the Dubai based managing general agency. Olivier Marre, Allied World’s aviation specialist, will write airline business through the Elseco platform. It has been reported that Elseco will look to grow its capacity to support a $150mn line size, with growth beyond this level planned. The Dubai MGA already has a maximum aviation capacity of $10mn for hull and $100 for liability last year. Elseco will have the renewal rights on Allied Worlds existing book. Reports have said that Allied World will still have responsibility for claims handling as well as being the lead paper provider for Elseco. The reason for the transfer is thought to be the challenges Allied World faced in competing in the aviation space.