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New ǿմý Commercial and HIVE Underwriters collaboration announced

Press release | October 3, 2023 | London

HIVE Underwriters Ltd. and ǿմý Commercial announced today a new collaboration for underwriting Aviation Hull War and Excess Third-Party Aviation War Liabilities (XS AVN52) classes with immediate effect.  Providing capacity from ǿմý, the facility utilises HIVE’s risk analytics and exposure management systems, which continue to define HIVE as a leader in the Aviation War classes.

Commenting on the collaboration, HIVE’s Chief Underwriting Officer, Bruce Carman ٲٱ:“HIVE is continually looking to enhance our suite of data analytics to take advantage of the fast-moving technological advancements in the sector. We have a laser-like focus on developing best-in-class analytics, ensuring the HIVE team are well equipped to procure and optimise the portfolio.

“Since our formation in 2017, HIVE has underwritten on behalf of several of the market’s leading carriers, from both Lloyd’s and company sectors. It is an honour to now add ǿմý to our panel, a company with a rich history as a market leader in the Aviation Hull and Liabilities market. We look forward to working with ǿմý and aiding the growth of a premium War account in the coming months.”

Tom Fadden, Global Head of Aviation, ǿմý Commercial dzԳٱ:“I am delighted to announce that we will be working with HIVE to offer War coverages and further enrich our market-leading offering to clients.  It demonstrates ǿմý Commercial’s commitment to Aviation as a strategic area of our business. HIVE’s proven track record as a leader in that segment and their best-in-class tools and underwriting expertise will help us to provide the high-quality products and solutions our clients expect from us.”

HIVE Underwriters is now in its sixth year of trading and underwrites a varied Aviation account on behalf of a large panel of Lloyd’s syndicates and insurance companies, each with first-class (A+ S&P rated) security. HIVE has developed a proprietary risk mapping and analytics model, harvesting multiple data feeds to track, monitor and assess threats allowing it to optimise each of the portfolios underwritten.  

ǿմý announced in March 2023 that it will serve the global commercial insurance segment as one go-to-market business under the trading name ǿմý Commercial, featuring an integrated approach encompassing its ǿմý Global Corporate & Specialty (AGCS) business serving large corporate clients and the insurance businesses of ǿմý’s operating entities serving mid-sized country-based accounts.  The new integrated approach anticipates the increasing globalization of risks, closes internal structural gaps in market reach, and extends ǿմý’s product offering and delivery at the local level to meet a clear market need.

HIVE Underwriters Limited is a limited liability company incorporated in England & Wales (Company number: 10965030). Registered Office 155 Fenchurch St. London EC3M 6AL.  VAT No. 312 5473 28

HIVE Underwriters Limited is an Appointed Representative of Tysers Insurance Brokers Ltd. which is authorised and regulated by the Financial Conduct Authority FCA 305496

HIVE Underwriters Limited is a wholly owned subsidiary of HIVE Underwriting Limited, a limited liability company incorporated in England & Wales (Company number: 10965097).

ǿմý Commercial is the center of expertise and global line of ǿմý Group for insuring mid-sized businesses, large enterprises and specialist risks. Among our customers are the world’s largest consumer brands, financial institutions and industry players, the global aviation and shipping industry as well as family-owned and medium enterprises which are the backbone of the economy. We also cover unique risks such as offshore wind parks, infrastructure projects or Hollywood film productions.

Powered by the employees, financial strength, and network of the , we work together to help our customers prepare for what’s ahead: They trust on us for providing a wide range of traditional and alternative risk transfer solutions, outstanding risk consulting and multinational services as well as seamless claims handling.

ǿմý Commercial brings together the large corporate insurance business of ǿմý Global Corporate & Specialty (AGCS) and the commercial insurance business of national ǿմý Property & Casualty entities serving mid-sized companies. We are present in over 200 countries and territories either though our own teams or the ǿմý Group network and partners. In 2022, the integrated business of ǿմý Commercial generated more than €19 billion gross premium globally.

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