The general aviation market has seen a new influx of capacity with the announcement that Argo International is to launch an operation via their Lloyd’s platform from January 1 2011.
Argo International, the specialist Lloyd’s insurer and subsidiary of Bermuda-based insurance and reinsurance operation Argo Group International Holdings, announced it is to add a broad general aviation account to its portfolio and had raided a rival to appoint the new man to lead the business.
As the company announced the launch it also revealed that it had appointed Richard Bayman as class underwriter to lead the new business line at Lloyd’s, which will be written within Argo International's Syndicate 1200.
Mr Bayman is a well know figure in the Lloyd’s market and has been underwriting general aviation and for a period hull war risks for the past 16 years.
He joins Argo International from rivals ACE, where he was aviation underwriter specialising in general aviation and hull war risks. Previously he had been at Kiln for 13 years where he had underwritten an aviation account.
In his role at Argo International, Mr. Bayman will underwrite a new specialist general aviation portfolio but the insurer refused to be drawn in the targets it had set in terms of premium revenue or performance.
Julian Enoizi, Chief Executive of Argo International, said: "The addition of a general aviation account is a natural extension to Argo International’s specialist underwriting portfolio and we are delighted that someone with Richard’s experience and profitable track record is joining us to spearhead this new line.”