Aviation
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Divided aviation insurance market with rate increases but new capacity
The aviation insurance market is “somewhat divided” according to Marsh Specialty, noting that rate increases due to the ongoing geopolitical…
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Canopius offers new capacity in aviation reinsurance launch
Speciality insurer and reinsurer Canopius has entered the aviation reinsurance market after appointing Andrew Hartley from Axis Capital. Canopius said…
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Strong market support for space insurance continues, says Gallagher
There is continued strong support for the space class in 2023, according to Gallagher, which notes that capacity has changed…
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Aviation market calm but tougher conditions expected in 2024
Aviation insurance rates are currently stable thanks to healthy market capacity but there is mounting pressure, and equilibrium this year…
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Lloyd’s expects settlement on Russian planes: report
Lloyd’s chairman Bruce Carnegie-Brown has told the Irish Independent the market expects to reach a settlement with policyholders that have…
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New London-based MGA to focus on advanced air mobility sector
A new MGA aimed at the advanced air mobility (AAM) sector and backed by Convex is to launch in London.…
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Sompo continues European expansion with German distribution deal
Sompo International has continued its recent expansion across Europe by entering into a distribution agreement to provide capacity to Hamburg-based…
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AGCS names AIG’s Browne CUO for specialty
Allianz Global Corporate & Specialty (AGCS) has appointed Gordon Browne as global head of specialty from AIG. Browne will report…
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AerCap in contact with Russian airlines over stranded jets
Irish aircraft leasing firm AerCap has been contacted by Russian airlines and their insurers over its planes that have been…
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Tokio Marine Kiln creates new aviation war team
Tokio Marine Kiln (TMK) has created a dedicated aviation war team and named AIG’s Will Green as the division’s underwriting…
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Hartford’s Lloyd’s syndicate shifts capacity away from aviation war risk
Hartford Financial Services Group’s Lloyd’s syndicate 1221 is shifting capacity away from aviation war risks, as a result of an…
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New drone insurance facility launched by Apollo and Moonrock
Specialist (re)insurer Apollo has launched a new drone insurance facility in partnership with Moonrock Drone Insurance, providing coverage for larger…
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AXA XL reducing aviation war cover after Ukraine losses, say Reuters sources
AXA XL is reported to be reducing aviation war cover after heavy Ukraine-related losses, according to Reuters. Two underwriting and…
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Reinsurance renewal signals new reality for buyers, says Aon
The January 2023 renewal was the most challenging in a generation, as the reinsurance market underwent a fundamental shift in…
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Property and certain specialty lines see big 2023 reinsurance renewal increases
The insurance sectors seeing the biggest premium rate increases in the January 2023 reinsurance renewals were property and specialty, including…
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Chubb Global Markets appoints head of airlines
Chris Collins has been appointed as head of airlines for Chubb Global Markets (CGM), the company's London Market wholesale and…
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Aviation insurance rates fall but war exposures see big hikes
Despite ongoing uncertainty about hull war losses arising from the Russia-Ukraine war, which caused a surge in war risk pricing,…
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SMBC Aviation latest to sue insurers over Russian jet losses
SMBC Aviation Capital has become the latest aircraft leasing company to file a legal claim against its insurers for jets…
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Cat claims to drive double-digit reinsurance renewal hikes: Fitch
Reinsurance rates for property catastrophe cover will increase by well over 10% at upcoming January 2023 renewals, according to Fitch…