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Novacore Expands Its Reach into Aerospace

In a significant move within the insurance industry, Novacore, an independent and innovative specialty insurance provider, has announced the launch of its new Aerospace segment focused on aviation and space risks. This expansion is supported by the appointment of two seasoned professionals, Rob Schenone and Tom Callahan, who will guide the efforts in these specialized fields.

Rob Schenone, with over 35 years of experience, assumes the role of Head of Space. His extensive background includes pivotal roles in aerospace underwriting, particularly at AXA XL, where he led strategies focusing on complex satellite and launch risks across global markets. Schenone emphasized the importance of a measured approach in today's rapidly evolving space market, stating, "This is an exciting time for the space market, but it requires a very measured approach. Novacore is creating the kind of environment where you can build something technical and sustainable from the ground up."

Joining him, Tom Callahan takes on the role of Head of Aviation, bringing similar years of expertise in aerospace underwriting. His distinguished tenure has included senior leadership positions at AXA XL, where he played a crucial role in shaping global aerospace strategy and execution. In reflecting on the complexity of the aviation market, Callahan noted, "Aviation is a complex risk market where experience and underwriting discipline matter. This is an opportunity to build a portfolio with a profitable, long-term view."

The new Aerospace segment focuses specifically on the intricacies of both aviation and space risks, known for their unique exposures. It aims to deliver tailored underwriting solutions and foster profitable portfolio management by adhering to rigorous risk selection and deployment processes. This strategic initiative aligns with Novacore's mission to enhance its specialty platform through elite underwriting talent.

Aaron Miller, CEO of Novacore, expressed confidence in the additional expertise brought by Schenone and Callahan. He stated, "Launching our Aerospace segment is a natural next step as we continue to build out our specialty platform with best-in-class underwriting talent. Rob and Tom each bring exceptional technical expertise and market relationships, and we are committed to building this segment with the same focus on underwriting discipline and sustained profitability that defines our platform."

The evolving landscape of aviation and space insurance requires adept leaders like Schenone and Callahan who can navigate the challenges that lie within. Novacore's strategic positioning with this new segment ensures that the company is ready to meet the increasing demands in these specialized markets, establishing itself as a key player in the aerospace insurance field.

In summary, the launch of the Aerospace segment by Novacore marks a pivotal moment in its growth trajectory, harnessing expertise from veterans in the field to address the complexities of risk management in both aviation and space sectors. As Novacore builds its presence in this exciting domain, the company is set to deliver innovative solutions that respond to the industry's evolving needs.

For additional information about Novacore and its innovative approach to specialty insurance, visit novacore.com.