Aerospace
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Insurer results and 1.1 reinsurance renewals will shape the trajectory of 2026. -
Patton Kline succeeds Glod as US aviation and space practice leader.
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Besides Russia-Ukraine losses, the Air India crash losses totaled $26mn.
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Net adverse development for the quarter increased 30% year on year to $89.2mn.
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The carrier has scaled up its international insurance offering in recent years.
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The acquisition follows a strategic partnership the two struck last August.
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The two parties seek to delay a judge’s summary judgment order.
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The company has settled, or is in the settlement stage, for 80% of the exposure.
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The suit names former Marsh execs Hanrahan and Andrews as defendants.
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IGI saw opportunities in energy, ports and terminals and marine cargo but remains cautious in long-tail lines.
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Space pricing experienced double-digit increases after the 2023 capacity retreat.
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AIG, HDI Global and others have settled. Chubb’s fight continues.
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The pair add to the roster of aviation-focused hires at WTW.
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The hires form part of WTW’s build-out of its US aviation practice.
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A positive outcome could significantly curb insurers’ exposure to the loss.
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Overall market capacity increased by 5.3% year-on-year, the broker reported.
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Of the 178 passengers and crew on board, no serious injuries have been reported.
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The offering includes GA, aviation GL and airport and product manufacturers liability.
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Q2 renewals will likely signal changes in the reinsurance market, the broker said.
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In tandem, it pegged its net cat loss estimate from California wildfires at $160mn-$190mn.
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Starr-leads the WTW-placed all-risks cover for American Airlines.
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The broker cautioned unresolved Russia-Ukraine claims remain a ‘Black Swan’
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LAU will become the new Core Specialty Aviation & Aerospace Division.
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The program was developed in collaboration with Allianz Commercial.
