Elseco has secured $75mn of airline capacity adding to its already growing aviation platform.
It has been reported that Swiss Re, Allied World, AmTrust and Hamilton have given Elseco their backing to increase its aviation offering to encompass airline business. Backers of Elseco’s original aviation offering, such as Sirius and Talbot, will continue to provide capacity on the extended aviation arm with a reduced share.
It has been speculated that Elseco is negotiating $50mn of further capacity for the venture with a number of large carriers showing interest. It is expected that the platform will be launched on 1 May.
Oliver Marre, the aviation specialist, was recently named head of aviation at Elseco with Gareth Small also joining the aviation team.