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Skyrisks launches new insurance services for AAM industry

Skyrisks Ltd has announced its “A-rated insurance capacity, targeted risk appetite, and operational readiness to welcome new business for the fast-growing insurance needs of the Advanced Air Mobility (AAM) sector.”

The company says it commenced its insurance operations in October 2023 with “the cornerstone financial investment and underwriting capacity of Convex Group Limited, an international specialty insurer and reinsurer focused on complex specialty risks.”

London-based Skyrisks says it is now operational as a managing general agent to the AAM sector. “Innovative insurance is a core enabler for the successful adoption of revolutionary aircraft, power systems, and next-generation infrastructure,” said Alistair Blundy, Chief Executive Officer. “We meet the emerging risk landscape with proactive appetite, bespoke solutions, and A-rated insurance capacity. We are open for business and accepting submissions. The foundational reception and support from broker partners is outstanding.”

According to the press release “Skyrisks is offering market-leading insurance capacity and coverage for the dynamic and varied AAM ecosystem, including operators of eVTOL, eSTOL and eCTOL aircraft; autonomous and RPAS fleets; manufacturers of AAM aircraft and major components; suppliers and distributors of AAM component parts; AAM service, maintenance, and repair operations; vertiport construction and operations; AAM airspace management infrastructure and services; alternative aviation fuels and powertrains; next generation avionics and technologies.”

Skyrisks has also announced a cornerstone investment from Convex Group Ltd (“Convex”) in addition to its existing insurance capacity partnership. Mike Hansen, Head of Aerospace at Convex, notes “Our approach to sustainability is integral to and integrated in Convex’s strategy. The very purpose of commercial insurance is to support the sustainability of business activities. That is why we are committed to advancing the sustainability agenda across the aviation sector in a long-term partnership with Skyrisks, the leaders in AAM insurance.”

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(Image: Skyrisks)

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