For Starr Companies' latest acquisition, the sky's the limit
The value of the aviation book is estimated to be in excess of $50 million in gross written premiums.
Starr Companies has entered into an agreement to acquire the renewal rights of Aspen Insurance’s aviation business. The value of the aviation book is estimated to be in excess of $50 million in gross written premiums.
In conjunction with this agreement, Starr will also manage all underwriting and claims administration on current business, as well as manage the run-off of Aspen’s aviation claims and reserves from prior years.
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Sky’s the limit
Starr’s aviation group provides a wide range of specialized insurance programs to aviation companies and their employers around the world, including commercial and regional airlines; corporate fleets; and aviation service providers, among others.
“This agreement will provide Aspen customers with a seamless, efficient way to transfer their business to one of the world’s leading aviation insurance carriers,” Maurice R. Greenberg, chairman and CEO of C.V. & Co. Inc., said in a statement. “The aviation business will continue to be a focus for us for years to come.”
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