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Marsh appoints 2 to aircraft finance insurance group

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Marsh L.L.C. has hired two former executives of the Export-Import Bank of the United States to join its new Aircraft Finance Insurance Consortium.

Aircraft finance specialist Robert Morin has joined as AFIC’s transaction and business development leader, while Gabriel Okolski was appointed to be the team’s credit and financial analyst, Marsh said Friday in a statement. Both men are based in Washington.
 
Mr. Morin most recently was EXIM Bank’s senior vice president of business and product development. Mr. Okolski most recently was a senior transportation loan officer for the bank.

AFIC, which was launched earlier this month, provides an alternative aircraft finance insurance product for banks and capital market investors that are funding new aircraft purchases from Boeing Co. 

The consortium offers insurance to cover a lender’s exposure to default on a loan, Marsh said in a statement. It is underwritten by Allianz S.E., Axis Capital Holdings Ltd., Sompo International (formerly Endurance Specialty Holdings Ltd.), and Fidelis.