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Capsicum Re initiates aviation reinsurance team

January 06, 2020

Specialist reinsurance broker, Capsicum Re announced the launch of its aviation reinsurance team led by David Bell. Based in London he will report to Matt Fitzgerald, managing partner of the London Property and Speciality division.

Bell joins Capsicum Re with 36 years aviation industry experience beginning his career at C.T.Bowring in aviation claims before joining Aon in 1999.

In 2016 he joined AIG as global head of aerospace where he was responsible for underwriting and business strategy across all aviation business lines including space.

FitzGerald, managing partner of the London Property and Specialty division, said: “2019 was a challenging year for the aviation market having suffered from years of declining rates and notable loss activity. However, there were also a number of positive developments: our joint venture partner Gallagher acquired JLT’s global aerospace division, there were a number of new entrants into this class as well as exits and there is an upwards pricing momentum in the aviation market. We are entering this market as we see an opportunity to bring our client focused, holistic entrepreneurial approach to this sector.”

“I’m thrilled to welcome David to Capsicum Re. He is one of the leading aviation experts and his extensive knowledge and experience will be incredibly beneficial as we grow this part of our division”.

Bell said: “Capsicum Re’s growth from a start up to the world’s fifth largest reinsurance broker in just six years has been incredibly impressive. It’s a dynamic, entrepreneurial and ambitious broker and I look forward to working with the team to develop its aviation reinsurance offering.”