elseco

An independent club of
insurers pooling resources

Our activity

elseco currently specialises
in the underwriting of the following risks:
SPACE, AVIATIONENERGY & MEGA YACHTS

Our activity/

aviation

The elseco aviation team was established in 2010. With many years multi-class experience in the aviation insurance industry our underwriting team is ideally positioned to take advantage of the growth and development of the aviation industry both in the region and internationally.

Our standard coverages include but are not limited to:

  • Hull all risks
  • Third party and passenger legal liability including incidental products and hanger-keepers liability
  • Airport liability

 

The Middle East and North Africa region (MENA) is one of the fastest growing aviation markets in the world. In the last decade middle eastern passenger traffic has grown from 5% to 11%. We are fully committed to supporting and being part of this growth.

Our activity/

space

Space insurance was the first line of business developed by elseco.

Today we are known throughout the world as a leading space insurer. elseco has a capacity to underwrite space risks of more than US$130m.

Thanks to the diversity of skills within the team, we provide efficient and adapted insurance solutions to the industry for all aspects of space risks.

This includes the core business that is the launch of a satellite, its commissioning and its in-orbit life, as well as other types of coverage such as pre-launch campaigns and loss of revenues.

Driven by innovation, elseco looks for new opportunities by developing innovative insurance instruments that meet the current and future needs of the space industry.

Our activity/

energy

Created in 2012, the elseco energy pool is the newest addition to the lines of business of the company, continuing the development of its expertise in insurance of high technology and industrial activities.

The rationale behind the creation of this Pool is the ideal location of elseco to access the energy insurance 

market, the MENA region comprising 70% of the world’s proven oil reserves and 50% of proven gas reserves.

Coverage provided includes offshore and onshore risks encompassing the entire production process: from exploration, extraction and production activities (upstream) to processing, refining and distribution activities (downstream).

Our activity/

mega yacht

As a recognised insurer of specialist classes, elseco additionally provides marine risks cover for private, pleasure, skipper and bareboat charter vessels over 30 meters long.

Vessel parts insured include hull, machinery, boat(s), gear and equipment.

All normal aspects of marine insurance cover are provided for although a greater depth of understanding of the individual mega yacht risk is required in order for premium rating to be more accurate.

About us

elseco is a world leader in High technology
insurance and was established in 2006.

Based in Dubai at the DIFC, regulated to
International practice standards, elseco
represents 20 out of the top 30 global insurance
companies.

About us/

history

1/12
2007
Commercial Licence at the Dubai International Financial Centre (DIFC) obtained
2/12
2007
Authorised firm by the Dubai Financial Services Authority (DFSA) confirmed
3/12
2008
US$160m written on an insurance Space option deal
4/12
2008
The company became fully independent
5/12
2010
Inaugural World Space Risk Forum event takes place in Dubai
6/12
2010
First ever signed Takaful Space contract
7/12
2010
Aviation added as a new class of insurance
8/12
2011
Move to top-floor office at the DIFC Gate Village
9/12
2011
Members aggregate profits reach US$100m
10/12
2011
Ten employees
11/12
2012
Achieves largest Space capacity in the market
12/12
2012
World Space Risk Forum 2012, takes place in Dubai
2007 - 2008 - 2010 - 2011 - 2012
About us/

press release

1/1
09.17.2012
elseco Boost Space Account With New Director Appointment
About us/

Laurent Lemaire

Laurent Lemaire
Chairman, CEO, and Co-Founder of elseco

Laurent is a graduate of the Toulouse School of Economics where he obtained a master in econometrics, additionally he studied risk and insurance.

His career started developing weather risk models.

In 1997 Laurent moved to London to take up an insurance broker position with Benfield Group, specialising in the field of international space business.

In 2002 Laurent was offered the opportunity to become underwriter. He then became Managing Director and director of the board of Satec srl based in Venice, Italy.

Laurent is tri-lingual in French, English and Italian.

Today, Laurent is Chairman, CEO and Co-Founder of elseco.

Contacts

We are located at Gate Village 8, level 7 at the Dubai international Finance Centre.www.difc.ae 

elseco, at the 7th floor of the gate village 8
Guests parking
Valet Parking
Contacts/

locate

elseco limited, Gate village 8, Level 7
Dubai International Finance Centre.
PO Box: 506639, Dubai, UAE
Tel: +971 4 384 2800
Email : Lucy@elsecolimited.com


Afficher Elseco sur une carte plus grande

Contacts/

people

Laurent Lemaire
Anna Marie Chiong
Compliance Officer

Website Disclaimer

Please note that the legal statements and guidance below only covers the elseco limited website at www.elsecolimited.com (and associated sub-domains if any).

The elseco limited website is maintained for your personal use and viewing. Access and use by you of this site constitutes acceptance by you of the provisions of this Disclaimer that take effect from the date of first use.

The information contained in this website is for general information purposes only. The information is provided by elseco limited and while we endeavor to keep the information up to date and accurate, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

In no event will elseco limited be held liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.

Through this website you may be able to link to other websites which are not under the control of elseco limited. We have no control over the nature, content and availability of those websites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.

elseco limited is producing its best efforts to keep the website up and running. However, elseco limited takes no responsibility for, and will not be held liable for, the website being temporarily unavailable due to technical issues beyond our control.

The provisions of this Disclaimer shall be governed by and construed in accordance with the laws of the DIFC. Any dispute arising under these provisions shall be subject to the exclusive jurisdiction of the courts of the DIFC.