DP Mann is entering the London aviation market after securing Christopher Hancock, David Slevin and Richard Etridge to underwrite and lead the book.
The book will include aviation manufacturer and products liability, airport and refuelling liability and general aviation business.
Hancock joins from Chartwell Syndicate, Slevin from Ace Global Markets and Etridge from GE Frankona.
Capacity for the syndicate has yet to be decided. An application will be made to Lloyd's to establish a separate syndicate to underwrite the business, but if this proves inappropriate, the team will be accommodated within the existing syndicate 435.
Nigel Barton, underwriting director at DP Mann said: “This strategic move increases our group's presence in the aviation insurance/reinsurance market and signals its continuing commitment to the class.”
DP Mann is ultimately owned by General Re Corporation, which also owns United States Aviation Underwriters, the US-based management company for United States Aircraft Insurance Group.
The group wanted a stronger presence in the London aviation market, according to Barton, and thought the market now looked right for the new airlines book.
DP Mann is the Lloyd's managing agent for leading property casualty syndicate 435, which for the 2000 year of account has an underwriting capacity of £257m. The agency is ultimately 100% owned by General Re Corporation, a subsidiary of Berkshire Hathaway.
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