US-based insurance brokerage Acrisure has launched Acrisure Aerospace, a new division designed to meet the specific needs of the aerospace industry.
The division consolidates several Acrisure businesses, with Jason Riley at the helm as managing partner.
Acrisure Aerospace aims to provide clients with comprehensive aviation solutions by leveraging US, London and international aerospace insurance markets.
Based in Fort Worth, Texas, Riley has more than two decades of experience in aerospace insurance.
He previously led Halton Hall & Associates, an Acrisure Partner with a 60-year legacy in aviation risk management.
Halton Hall & Associates is among the entities that have united to form the new division.
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Riley is supported by Barry Dowlen, head of growth, and Debi Fleischer, head of operations, as part of the Aerospace leadership team.
Acrisure Aerospace will monitor various trends affecting the aviation sector and collaborate with clients to develop solutions that address risk and cater to their business requirements.
Acrisure co-founder, chairman and CEO Greg Williams said: “The aerospace industry has seen unprecedented risk and opportunity in recent years. Acrisure is doubling down on our expertise and ability to serve these clients, whose needs are often complex and multifaceted.”
Riley added: “From student pilots purchasing their first aircraft to commercial flight operations to complex risks such as airlines and manufacturer products liability, Acrisure Aerospace is a trusted resource with a relentless focus on client service for any client with aviation exposure.
This initiative is part of Acrisure’s broader strategy, which recently saw the creation of a Mid-Atlantic region, incorporating its businesses across five states.
The company’s rebranding efforts in 2023 have included multiple regions, with plans to continue in 2024.
Reports from June 2023 suggest that Acrisure is considering an initial public offering in 2024, potentially valuing the company at more than $20bn.
This follows a successful funding round in 2022, where Acrisure secured $725m at a $23bn valuation, with contributions from investors such as the Abu Dhabi Investment Authority.