While the financial details of Convex’s investment remain undisclosed, Skyrisks positions itself at the forefront of the future of aviation, particularly in the AAM sector. This sector is characterised by groundbreaking aircraft, including the latest electric vertical takeoff and landing (eVTOL) models, and a spectrum of innovative technologies. The overarching goal is to ensure the safe, swift, cost-effective, and sustainable movement of people and goods.
Skyrisks distinguishes itself by providing insurance capacity and coverage tailored for a variety of aircraft types, including eVTOL, electric short takeoff and landing (eSTOL), and conventional takeoff and landing (eCTOL) aircraft. The comprehensive coverage extends to autonomous and remotely piloted aircraft system (RPAS) fleets, AAM aircraft and component manufacturers, suppliers, distributors, service, maintenance, and repair operations for AAM, vertiport construction and operations, AAM airspace management infrastructure and services, alternative aviation fuels and powertrains, and next-generation avionics and technologies.
The company’s formation, coupled with its reliance on Convex’s capacity, was initially disclosed in March 2023, following Skyrisks’ incorporation in January of the same year. The official launch marks a significant milestone for Skyrisks as it positions itself to play a pivotal role in the dynamic landscape of advanced air mobility.
“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 of Skyrisks. “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.”
Mike Hansen, head of Aerospace at Convex, also commented, saying: “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.”
Additionally, Shelley Lyddon-Mills, chief actuary Bermuda at Convex, will join the Board of Directors of Skyrisks. She said: “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 data sources into a sophisticated API-enabled pricing engine, unlocking valuable me
