Core Specialty Completes Acquisition of London Aviation Underwriters

Deal News | Jan 17, 2025 | Globenewswire

Core Specialty Insurance Holdings, Inc. has completed its acquisition of London Aviation Underwriters, Inc. (LAU), marking the establishment of its 18th specialty business unit. This strategic move advances Core Specialty's objective to become a leading specialty insurer. Under the acquisition terms, LAU will operate as a standalone division but maintain its brand and current management team, including Jeff Sutton as President of the new Aviation & Aerospace Division. This extension of the Core Specialty business into the aviation and aerospace market through LAU, which produced $44 million in GAAP gross premiums written in 2024, is expected to foster growth and opportunities. The acquisition reflects Core Specialty's strategy of leveraging its capital and industry expertise to heighten its market presence and offer differentiated solutions tailored to niche markets.

Sectors

Insurance
Aerospace & Defense

Geography

United States – Core Specialty Insurance Holdings, Inc. is based in the United States and the acquisition expands their specialty insurance offerings in the U.S. market.
United Kingdom – London Aviation Underwriters, Inc., the acquired company, is based in London, demonstrating cross-border M&A activity.

Industry

Insurance – The acquisition involves specialty insurance companies focusing on aviation and aerospace insurance products.
Aerospace & Defense – The acquisition impacts the aerospace industry by forming a dedicated Aviation & Aerospace Division within Core Specialty.

Financials

44,000,000 – LAU produced $44 million in GAAP gross premiums written in 2024.

Participants

Name	Role	Type	Description
Core Specialty Insurance Holdings, Inc.	Acquirer	Company	A specialty insurance holding company offering a diversity of products for small to mid-sized businesses.
London Aviation Underwriters, Inc.	Target Company	Company	An aviation insurance entity with a historical focus on aviation underwriting.
Jeff Sutton	President, Aviation & Aerospace Division	Person	The newly appointed President of the Aviation & Aerospace Division within Core Specialty.
Jeff Consolino	Founder, President, and CEO, Core Specialty	Person	Chief executive responsible for the strategic direction and growth of Core Specialty.