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Aviation Facultative

The invention of the airplane has changed how people live, work and experience the world. Air travel has become so commonplace that it is hard to imagine a world without it.

No other means of transportation is able to provide a faster connection of people and goods than the Airline industry. Ever more efficient technology makes this product more affordable and accessible also for those who have formerly not flown.

Despite several challenges like fuel price volatility, financial crises and political unrest in many countries in the world, the Aviation Industry is constantly growing with an ever higher demand for insurance.

As one of the pioneers of aviation insurance, Munich Re has been on the forefront of providing insurance solutions to the Aviation industry since the beginning of commercial air transport.
 
Whether in the air or on the ground, Aviation insurance covers all risks associated with the modern Aviation Industry.

Munich Re’s Aviation Department provides highly recognized insurance experts and decades of experience to ensure that our clients will not only get the required coverage but also the service and support in case of a loss.
The underwriting teams are dedicated to master all existing and new challenges together with our clients and their brokers. Beyond the traditional Aviation insurance, we are also closely working together with our experts in the group to provide our Aviation clients with tailor made solutions in the area of Cyber, Balance Sheet protection, D&O or Property & Casualty.

Core Responsibilities

The department Aviation Facultative is responsible for

  • Underwriting of facultative aviation business
  • Client management (Airlines, Products/Manufacturers, Brokers)

Geographical Scope

The department is responsible for worldwide facultative aviation business

Business Mandate

We are authorized to write the following classes of business:

  • Airlines (Passenger and Cargo)
  • Products Manufacturers
  • Lessors and Financiers
  • Large Aircraft (VIP Fleets)
  • Large General Aviation

Main Tasks

  • Underwriting of risks within the business mandate as a sophisticated following market
  • Aviation-related risk assessment and risk consulting
  • Client management for large Airline/Products Manufacturer clients
  • Client management for major Aviation Brokers
  • First point of contact for Aviation clients for other lines of business (e.g.; Cyber, Balance Sheet Protection covers, D&O, Property & Casualty)
  • Apart from traditional standard insurance covers, development of tailor-made and holistic solutions for our clients
  • Creation and exchange of aviation-related know-how and expertise

Distribution Channels

  • Aviation Facultative department (Munich) – all business that is not delegated to Beaufort (see next bullet point)
  • Beaufort Underwriting London (via Great Lakes Insurance (SE) paper) – Mandated business on behalf of Munich Re Aviation Facultative:
    • Average Fleet Value below US$ 150 million
    • Geographical location generally outside EU and United States of America
  • MSF Pritchard Syndicate 318 standalone capacity written independently of Munich Aviation Facultative


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This publication is available exclusively to Munich Re clients. Please contact your Client Manager.