HDI Global has named Geoff Pratt as its new aviation underwriting manager for Australia.
Based in Sydney, Pratt will focus on expanding the company’s aviation insurance offerings and reinforcing its presence in the local market.
Pratt brings 20 years of experience in the insurance industry, having served in roles as both a broker and an underwriter. His appointment aligns with HDI Global’s aim to strengthen its aviation portfolio in the region.
Dylan Jones, head of aviation for Australia, said Pratt’s expertise will be instrumental in achieving the company’s objectives.
“The addition of Geoff Pratt to our aviation team underscores HDI’s dedication to achieving profitable growth in the region,” he said, emphasising that Pratt is widely recognised as one of the most impactful and influential underwriters in recent history, boasting strong relationships with brokers and clients throughout Australia.
Stefan Feldmann, who oversees HDI Global’s operations in the Asia-Pacific region, also commented on the hire.
“Geoff’s extensive experience and strong broker relationships will be an unwavering support to HDI’s Specialty team. We are delighted to have his expertise in the aviation market to help deliver exceptional service to our business partners,” he said.
Pratt’s role is part of HDI Global’s wider strategy to grow its specialty insurance lines and strengthen its operations across Asia Pacific.
The appointment comes as geopolitical uncertainty is reshaping risks in the aviation sector, with so-called “grey zone” conflicts emerging as a significant challenge for insurers, according to WTW.
Jared Seth, managing director of global aviation and space at WTW, said these conflicts – which involve actions short of full-scale war – are altering the way aviation risks are assessed and managed.
Grey zone activities, such as sabotage and cyberattacks, are increasingly affecting the aviation industry.
Seth highlighted incidents like explosions at courier facilities as examples of how these risks can impact insurers and clients.
One key issue is the disruption of GPS systems through spoofing or jamming, which can mislead navigation systems or block signals entirely. While these attacks often target military operations, commercial aviation systems can be inadvertently affected.
Seth noted that such incidents, though rare, could lead to complicated and prolonged claims processes.
In its General Aviation Insurance Market Outlook for Q4 2024, WTW predicts relatively stable market conditions for operators with favourable claims records.
Overcapacity in the market has kept rates for hull and liability insurance competitive, but war liability coverage remains constrained, leading to modest rate increases.
Emerging challenges include unresolved legal disputes related to aircraft leases affected by the Russia-Ukraine conflict and increasing operational costs at smaller airfields.
At the same time, advancements in technologies such as electric vertical take-off and landing (eVTOL) aircraft are expected to influence risk management and insurance offerings in the future.
