Chubb, a global insurance leader, has announced its definitive agreement to acquire Catalyst Aviation Insurance, a Melbourne-based managing general agent specializing in general aviation insurance for the Australian market.
The move underscores Chubb’s strategic expansion efforts, aiming to solidify its footprint in the aviation sector, particularly in Australia. Catalyst Aviation’s expertise and established market presence offer Chubb an avenue to enhance its offerings and accessibility to brokers and clients within the region.
Brendan Warner, the current Managing Director of Catalyst, will continue to oversee underwriting for the aviation business in Australia, ensuring continuity for clients and distribution partners amid the transition.
Commenting on the acquisition, Peter Kelaher, Chubb Country President for Australia and New Zealand, expressed satisfaction in welcoming the Catalyst team into the Chubb family. He emphasized that the move further reinforces Chubb’s commitment to being the preferred insurer for brokers and clients in the local market, bolstering capabilities and knowledge within the aviation domain.
Simon Abbott, Head of Aviation at Chubb Global Markets, highlighted the alignment between Catalyst Aviation’s underwriting philosophy and Chubb’s values, noting the potential synergies that would enhance risk capacity and appetite in the Australia and New Zealand markets. Abbott also underscored how Catalyst Aviation complements Chubb’s existing aviation operations, spanning from London to Singapore.
The financial terms of the transaction were not disclosed, and the acquisition is anticipated to be finalized by the end of June, subject to regulatory approvals and customary closing conditions.
About Chubb
Chubb stands as a global leader in the insurance landscape, operating in 54 countries and territories. The company provides a diverse range of commercial and personal insurance products, including property and casualty, personal accident, supplemental health, reinsurance, and life insurance. With a commitment to prudent risk management, Chubb services and adjudicates claims promptly and fairly, backed by its robust financial strength and extensive product offerings. Chubb Limited, the parent company, is listed on the New York Stock Exchange (NYSE: CB) and is a constituent of the S&P 500 index. With executive offices spanning Zurich, New York, London, Paris, and other locations, Chubb employs approximately 40,000 individuals worldwide.
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