XL Catlin announced the launch of specialty aviation insurance in Mexico. The new product suite will initially focus on general aviation hull and liability risks.
With an established presence in Latin America and aviation teams in Brazil, the United States and Canada, XL Catlin said its expansion in Mexico is the next step to help general aviation customers manage risk and keep moving forward.
“With consistent increases in passenger traffic and aging fleets, Mexico’s general aviation sector is poised for growth,” said Juan Pablo Caso, client distribution leader for XL Catlin, Mexico.
“This is a great opportunity for a seasoned aviation underwriter like XL Catlin to enter the market. The major manufacturers of business aircraft all have production and service centers in Mexico,” he added. “Another sign pointing to ongoing demand is the planned 2018 expansion by the country’s leading business aviation companies and their fleet of fractional-ownership jets.”
XL Catlin said it offers a comprehensive suite of aviation insurance options, including multi lines within aviation for individual clients. The new offering in Mexico will concentrate on underwriting jets, some turbo-propelled aircraft and helicopters, with a maximum age of 28 years. The new product offers broad coverage locally in standard policies along with complementary endorsements through global and national insurance brokers.
Source: XL Catlin
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