Bermuda’s international specialty re/insurer Convex Group Ltd is partnering with London’s Skyrisks Limited to address the fast-growing insurance needs of the advanced air mobility sector.

Skyrisks said the AAM sector embodies the future of aviation, leveraging revolutionary new aircraft, such as the new breed of electric vertical take-off and landing, and a broad array of innovative technologies to ensure the safe, quick, affordable and sustainable movement of people and goods.

Newly incorporated, Skyrisks said it is preparing to launch as managing general agent pioneering comprehensive insurance products for AAM businesses in partnership with Convex.

It said AAM businesses will have needs including hull all risks, third party liability, passenger and crew liability, premises, products and hangar keepers liability, and other coverages.

Skyrisks has appointed Alistair Blundy, a specialist aviation underwriter with Allianz Global Corporate and Specialty, to the post of chief executive officer upon his completion at AGCS.

Mr Blundy said: “The vast majority of AAM aircraft are zero-emission and exceptionally versatile, providing a cleaner, faster, quieter, and more affordable alternative to conventional platforms.

“Skyrisks is committed to driving global sustainability action in aviation, which today accounts for 2 per cent of global emissions.”

Michael Hansen, head of aerospace at Convex, said: “Tackling the enormous challenges of sustainability and safety in aviation are among the greatest responsibilities of the insurance market.

“It will take a data-driven specialist such as Skyrisks to underwrite the risk from the ground up with coverages tailored for the needs of the AAM ecosystem.”