Aerospace
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Johnny Wadhams has moved to the broker from Chubb, where he was chief underwriting officer for aviation.
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"It costs less $ to insure a Falcon 9 mission," said Musk in a Tweet.
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The hires are the latest personnel changes in the aviation broking market amid a prolonged war for talent.
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In its Plane Talking report the broker said insurers are still focused on long-term rate adequacy.
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David Boyle, Ed Louth, Paul Baker and Neil Black will join the broker’s global aerospace team. -
Plummeting passenger volumes will directly affect premiums collected by insurers.
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The broker has made six global aviation hires as the battle for staff in the market continues.
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The Ukrainian airline executive said insurers are seeking permission from the US to make payments.
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Mid-year M&A including the aviation deal increased the broker’s margin by about 50 bps.
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Sources said Island Express Helicopters holds a $50mn hull and liability insurance policy.
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The broker said that Boeing claims of up to $1.5bn had prompted rates to surge.
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Sources said carriers will likely need OFAC approval to make liability payments to Iranian families.
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