Chubb to Acquire General Aviation Insurance Specialist in Australia [Yahoo! Finance]
Chubb Limited (CB)
Last chubb limited earnings: 4/21 04:05 pm
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Source: Yahoo! Finance
SYDNEY June 5, 2024 /PRNewswire/ -- Chubb today announced a definitive agreement to acquire Catalyst Aviation Insurance, a Melbourne -based managing general agent that specializes in general aviation insurance for the Australia market. The addition of Catalyst Aviation would expand Chubb's presence in an important aviation market, providing local market access for brokers and clients, and expanding the reach of the aviation insurance products and capabilities of Chubb Global Markets, the company's London Market wholesale and specialty business including its Lloyd's platform. The acquisition was designed to provide continuity for clients and distribution partners. Brendan Warner , currently Managing Director of Catalyst, will continue to lead underwriting for the aviation business in Australia . Financial terms of the transaction were not disclosed. The transaction is expected to be completed on or about the end of June and is subject to regulatory and other closing conditions.
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