Global insurance giant Chubb has recruited a 40-year industry veteran who is considered by many as the father of modern aviation insurance.
Martin Stevens has come out of his brief retirement to join Chubb Global Markets, the London-based wholesale insurance unit of the international carrier. He will be the chairman of its aviation division.
In his new role, Stevens will contribute to the strategic management of Chubb Global Market's aviation portfolio and to the development of the team.
Based in London, Stevens will report to Matthew Shaw, Chubb Global Markets division president.
“Martin, with his wealth of insurance industry experience and market knowledge, is a great addition to our team and will help us to further expand our aviation capabilities,” Shaw said. “I, along with the whole team, very much look forward to working with him.”
In a blog entry earlier this year, Willis Towers Watson Aerospace CEO John Rooley said many have called Stevens the father of the modern aviation insurance market.
“Martin has certainly been a major architect in that market, having led the
AIG’s aviation business since 1987, building it into a major leader of some of the world’s largest airlines,” Rooley said.
Stevens, who has over 40 years of experience in the industry, served as senior vice president of AIG’s aviation business from 1979 to 2008.
He then became the president of the aerospace business of AIG subsidiary Chartis International and executive vice president and director of Chartis Aerospace Insurance Services.
Before he went to his short retirement in January, Stevens previously served as global aerospace chief underwriting officer at AIG Property Casualty for more than four years.
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