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Dear Friends and Partners,
Happy New Year! As you know we are starting an exciting chapter of our history, as Aviabel is becoming a member of the AXIS family. Please learn more about AXIS Capital with Mark Gregory, CEO of AXIS Insurance’s International Division. In this issue, we share with you A.M. Best’s and Standard & Poor’s positive announcements about the future review of Aviabel ratings. You will enjoy a great story illustrating our claims philosophy and how we keep our promises when an accident occurs. We also introduce to you our new trainee, Archie, the son of one of our partner brokers, Terry Moyes, CEO of Forbes Insurance. Finally, do not miss the news: our next Aviation Insurance Course is coming up soon!
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Best personal regards,
Cécile Coune
CEO
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Who is AXIS Capital?
On November 28th we announced that Aviabel had agreed to become part of AXIS Capital, a global provider of specialty insurance and reinsurance. In this newsletter, we present to you a short interview with Mark Gregory, CEO of AXIS Insurance’s International Division.
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News from the rating agencies
In light of the agreement between AXIS Capital and Aviabel, the rating agencies Standard & Poor’s and A.M. Best published positive press releases on Aviabel future ratings after the closing.
Standard & Poor’s: On Nov. 28, 2016, Aviabel Cie. Belge d'Assurances Aviation S.A. (Aviabel) announced that its shareholders have entered an agreement to sell their shares to AXIS Capital Holdings Ltd., whose core operating entities are rated A+/Stable/--. As a result, we are placing the 'A-' ratings on Aviabel on CreditWatch with positive implications.
A.M. Best has placed under review with positive implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Compagnie Belge d’Assurances Aviation S.A. (Aviabel). This Credit Rating (rating) action follows the announcement on 28 November 2016 that Aviabel has entered into an agreement to be acquired by AXIS Specialty Holdings Ireland Limited, an intermediate holding company within the group headed by AXIS Capital Holdings Limited (Bermuda).
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Claims story
Stefan Bovin, Claims Manager with Aviabel, tells a very interesting claims story, dealt with by our services.
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Trainee at Aviabel... Archie Moyes
In the beginning of January a new, special guest arrived at Aviabel. Archie Moyes (18) started his traineeship at Aviabel, which will last for a month. Archies appointment is special because his father, Terry Moyes, is CEO of Forbes Insurance limited, a broker and partner of Aviabel for several years. At Forbes Insurance Limited Archie is involved in an apprenticeship program. We wish him lots of succes!
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Aviabel Aviation Insurance Course
Brussels - May 9 to May 11
In a few months Aviabel will organise its Aviation Insurance Course for the fifth time. The program gives an overview of aviation industry risks and insurance, but also focuses on underwriting and claims management. All sessions will be held in English! A save-the-date e-mail will be sent soon.
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This document is for information purposes only, has no contractual value and does not constitute an advice. We do not represent, warrant, undertake or guarantee that the information in the newsletter is correct, accurate or complete. The SA Aviabel is not liable for any loss anyone may suffer by relying on the information contained in this newsletter. If you do not want to receive our newsletters anymore, you can unsubscribe.
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