Marsh execs seek to allay risk manager concerns over JLT deal

Marsh execs seek to allay risk manager concerns over JLT deal

Marsh execs seek to allay risk manager concerns over JLT deal

Marsh executives have sought to allay risk manager concerns that the JLT acquisition will lead to a lack of focus, loss of talent and seriously harm competition in the sector. Speaking the day after the deal completed, they said the combined company will redouble efforts to put clients at the centre of its thinking and decision-makers close to the front line of risk…

Boeing suspends entire 737 Max fleet as insurance details come to light

Boeing suspends entire 737 Max fleet as insurance details come to light

Boeing suspends entire 737 Max fleet as insurance details come to light

Boeing has suspended all 371 of its worldwide 737 Max aircraft fleet, after the US became the last major country to ground the planes over safety fears. The decision follows news that Global Aerospace is the lead insurer for Boeing, with Chubb confirmed as lead underwriter of the Ethiopian Airlines plane that crashed on Sunday and Willis Towers Watson the broker…

EU bans Boeing Max as Global Aerospace confirmed lead insurer

EU bans Boeing Max as Global Aerospace confirmed lead insurer

EU bans Boeing Max as Global Aerospace confirmed lead insurer

The EU has banned all Boeing 737 Max aircraft from flying in Europe over safety concerns, with more than half of the world’s 350-strong fleet now reportedly withdrawn from use. Meanwhile, Global Aerospace has confirmed it is the lead insurer for Boeing. The policy could see heavy product liability claims from the grounded aircraft, which now face serious questions. “I…

Chubb leads on Willis-brokered Ethiopian Airlines crash as safety fears mount

Chubb leads on Willis-brokered Ethiopian Airlines crash as safety fears mount

Chubb leads on Willis-brokered Ethiopian Airlines crash as safety fears mount

Chubb is the lead underwriter of the Ethiopian Airlines plane that crashed on Sunday with Willis Towers Watson the broker, a spokesperson for the intermediary has confirmed. The spokesperson was responding to Reuters following the crash of Ethiopian Airlines flight 302 shortly after take-off from Addis Ababa. All 157 passengers and crew were killed. Experts have placed the hull loss…

Big data and new markets will be key disruptors in transport sector

Big data and new markets will be key disruptors in transport sector

Big data and new markets will be key disruptors in transport sector

Some 43% of transport sector respondents believe big data will be the most significant driver of change, according to an annual survey from Norton Rose Fulbright. The eighth edition of The way ahead transport report reveals that 90% of aviation and 86% of rail respondents are positive about market conditions, compared with 64% and 37% in logistics and shipping respectively.…

Cleared for takeoff?

Cleared for takeoff?

Cleared for takeoff?

Slow growth and excess capacity keeps aviation insurance on the runway for now, reports Gareth Stokes To get a handle on the risks covered by aviation insurers, one need only turn to JLT Speciality’s November 2016 Plane Talk newsletter. The risk specialist, part of the Jardine Lloyd Thompson Group, published the average fleet values (expiring AFV at renewal date) of…

Credit insurer ATI backs Ethiopian Airlines US$159m fleet expansion

Credit insurer ATI backs Ethiopian Airlines US$159m fleet expansion

Credit insurer ATI backs Ethiopian Airlines US$159m fleet expansion

The African Trade Insurance Agency (ATI) has concluded its first deal in Ethiopia, backing a US$159m loan from the African Development Bank (AfDB) to fund Ethiopian Airline’s fleet expansion with the purchase of an Airbus A350-900 jet. ATI sees this as an important step for backing future AfDB projects across the continent. Ethiopian Airline’s aggressive expansion strategy includes doubling its…