CNA TO SELL OFF AVIATION

CNA announced July 31 that it entered into an agreement to sell Associated Aviation Underwriters Inc. (AAU) to the British Aviation Insurance Group (BAIG). AAU is jointly owned by CNA and The Chubb Corp. The agreement will take effect in September, subject to regulatory approval. BAIG is an international player in the aviation and aerospace insurance industry. The acquisition of AAU, by providing access to the important U.S. market, will round out the company’s global capabilities. BAIG operates a pool in which CNA will participate, thus providing a continuous market for CNA’s aviation and aerospace customers.

Topics Aviation