HIVE Underwriters Ltd. and Allianz Commercial announced today a new collaboration for underwriting Aviation Hull War and Excess Third-Party Aviation War Liabilities (XS AVN52) classes with immediate effect. Providing capacity from Allianz, the facility utilises HIVE’s risk analytics and exposure management systems, which continue to define HIVE as a leader in the Aviation War classes.
Commenting on the collaboration, HIVE’s Chief Underwriting Officer, Bruce Carman stated: “HIVE is continually looking to enhance our suite of data analytics to take advantage of the fast-moving technological advancements in the sector. We have a laser-like focus on developing best-in-class analytics, ensuring the HIVE team are well equipped to procure and optimise the portfolio.
“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. 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.”
Tom Fadden, Global Head of Aviation, Allianz Commercial commented: “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.”
HIVE Underwriters is now in its sixth year of trading and underwrites a varied Aviation account on behalf of a large panel of Lloyd’s syndicates and insurance companies, each with first-class (A+ S&P rated) security. HIVE has developed a proprietary risk mapping and analytics model, harvesting multiple data feeds to track, monitor and assess threats allowing it to optimise each of the portfolios underwritten.
Allianz announced in March 2023 that it will serve the global commercial insurance segment as one go-to-market business under the trading name Allianz Commercial, featuring an integrated approach encompassing its Allianz Global Corporate & Specialty (AGCS) business serving large corporate clients and the insurance businesses of Allianz’s operating entities serving mid-sized country-based accounts. The new integrated approach anticipates the increasing globalization of risks, closes internal structural gaps in market reach, and extends Allianz’s product offering and delivery at the local level to meet a clear market need.
