Skyrisks Launches Market Leading Insurance Capacity for AAM

SKYRISKS LIMITED

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NEWS RELEASE

FOR IMMEDIATE RELEASE                                                                  

8:30A.M. (GMT)
October 2, 2023
London, United Kingdom

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Skyrisks Launches Market Leading Insurance Capacity for AAM

Skyrisks announces targeted risk appetite and operational readiness to welcome new AAM business, propelled by cornerstone investment from capacity partner Convex

Skyrisks Limited (“Skyrisks”) announced today its market-leading A-rated insurance capacity, targeted risk appetite, and operational readiness to welcome new business for the fast-growing insurance needs of the Advanced Air Mobility (AAM) sector.

The AAM sector embodies the future of aviation, leveraging revolutionary new aircraft and a broad array of innovative technologies to ensure the safe, quick, affordable and sustainable movement of people and goods.

London-based Skyrisks is now operational as a managing general agent to empower the AAM sector. “Innovative insurance is a core enabler for the successful adoption of revolutionary aircraft, power systems, and next-generation infrastructure,” said Alistair Blundy, Chief Executive Officer. “We meet the emerging risk landscape with proactive appetite, bespoke solutions, and A-rated insurance capacity. We are open for business and accepting submissions. The foundational reception and support from broker partners is outstanding.”

Skyrisks is offering market-leading insurance capacity and coverage for the dynamic and varied AAM ecosystem, including operators of eVTOL, eSTOL and eCTOL aircraft; autonomous and RPAS fleets; manufacturers of AAM aircraft and major components; suppliers and distributors of AAM component parts; AAM service, maintenance, and repair operations; vertiport construction and operations; AAM airspace management infrastructure and services; alternative aviation fuels and powertrains; next generation avionics and technologies.

Skyrisks also announces today a cornerstone investment from Convex Group Ltd (“Convex”) in addition to its existing insurance capacity partnership. Mike Hansen, Head of Aerospace at Convex, notes “Our approach to sustainability is integral to and integrated in Convex’s strategy. The very purpose of commercial insurance is to support the sustainability of business activities. That is why we are committed to advancing the sustainability agenda across the aviation sector in a long-term partnership with Skyrisks, the leaders in AAM insurance.”

Shelley Lyddon-Mills, Chief Actuary Bermuda at Convex, will join the Board of Directors of Skyrisks. Commenting on her appointment, she notes “We are on a mission to be a market leader in AAM insurance. A key driver of our innovative edge will stem from the ability to integrate multiple datasources into a sophisticated API-enabled pricing engine, unlocking valuable metrics and empowering us to walk side-by-side with AAM companies as they grow”.

About Skyrisks

Skyrisks is a London-based managing general agent leading the development and provision of insurance and risk-management solutions for the fast-growing Advanced Air Mobility (AAM) sector. Our AAM insurance expertise and data-driven approach enable us to develop insurance products as innovative as our client's businesses. We are passionate about insuring the safe, quick, affordable and sustainable movement of people and goods. Skyrisks Limited is a private limited company incorporated on January24, 2023 under the laws of England and Wales with company number 14613267. Further information is available on the company’s website: www.skyrisks.com

About Convex

Convex Group is an international specialty insurer and reinsurer focused on complex specialty risks across a diverse range of business lines. The company brings together best in class talent, a diversity of thought and the freedom and independence of a strong balance sheet to create a fresh approach to business. The Group’s ambition is to offer something different to its clients and to engage with them in a true partnership based on fairness, dignity and respect. Convex was founded by Stephen Catlin and Paul Brand and operates out of London, Bermuda, Luxembourg and New Jersey. The company has an “A” (Excellent) A.M. Best rating and an “A-” with stable outlook S&P rating.

Cautionary Statement

Certain statements contained in this press release are“forward looking” statements, which can be identified by the use of terminology such as “seek”, “may,” “will,” “could,” “should,” “expect,” “anticipate,”“plan,” “project,” “estimate,” “forecast,” “intend,” “aspire,” “continue,”“target,” “goal,” “objective,” and “believe” or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties, actual events or results or the actual performance may differ materially from those reflected or contemplated in such forward-looking statements. Nothing contained in these statements may be relied upon as a guarantee, promise, assurance or representation as to the future. This statement does not constitute an offer to sell or the solicitation of an offer to buy insurance in any state of the United States or other U.S. or non-U.S. jurisdiction. There is no guarantee that Skyrisks will receive the required regulatory approval to engage in any potential business transactions. You must not and should not rely on any assumptions materialising.

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