Skyrisks launches insurance capacity for AAM

Skyrisks Limited 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 AAM sector embodies the future of aviation, leveraging revolutionary new aircraft and a broad array of innovative technologies to ensure the safe, quick, affordable and sustainable movement of people and goods.

London-based Skyrisks is now operational as a managing general agent to empower 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.”

Skyrisks is offering 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; and next generation avionics and technologies.

Skyrisks also announced a cornerstone investment from Convex Group Ltd in addition to its existing insurance capacity partnership. Mike Hansen, head of aerospace at Convex, noted: “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.”

Shelley Lyddon-Mills, chief actuary Bermuda at Convex, will join the board of directors of Skyrisks. Commenting on her appointment, she said: “We are on a mission to be a market leader in AAM insurance. A key driver of our innovative edge will stem from the ability to integrate multiple data sources into a sophisticated API-enabled pricing engine, unlocking valuable metrics and empowering us to walk side-by-side with AAM companies as they grow.”

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