Chubb, the world’s largest publicly traded property and casualty insurance company, has launched an aviation hub in Singapore.
This strategic move serves to bolster the company’s general aviation and aerospace business, demonstrating its commitment to growth and innovation in the sector.
The establishment of the Singapore aviation hub is central to a regional strategic focus of Chubb Global Markets (CGM). CGM, which encompasses Chubb’s London Market wholesale and specialty division, including the Lloyd’s platform, delivers custom solutions across various risk scenarios by collaborating closely with brokers and clients.
Chubb specialises in providing commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse clientele. Leveraging its underwriting expertise, Chubb assesses, assumes and manages risk with discernment and discipline, while ensuring that claims are serviced and paid promptly and fairly.
The newly minted hub will be managed by Alastair Stuart, who has been appointed as the practice leader, Aviation, Asia Pacific. Stuart, who joins Chubb from QBE, brings with him over two decades of experience in the insurance industry, along with an in-depth understanding of the aviation and aerospace business.
Alastair Stuart will be in charge of establishing and growing CGM’s aviation business within the Asia Pacific region. His extensive experience, technical acumen and local knowledge will be pivotal as the company seeks to capitalise on opportunities in this rapidly expanding market.
Simon Abbott, product line head aviation, CGM, said, “I am delighted that Alastair is leading our newly established aviation hub in Singapore, which aims to further enhance our current Asian portfolio by accessing domestically placed business and bringing Chubb’s product and service closer to Asian customers.”
Paul McNamee, senior vice president, Chubb Group and regional president, Asia Pacific, said, “The launch of our new aviation hub is an important part of Chubb’s global expansion in this sector, enabling us to enhance our product and service offering for clients and broker partners across the region.”
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