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.
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A California ruling could set an important precedent as other courts consider similar cases.
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Ball will succeed Jeff Poliseno, who is set to retire.
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The executive joins Applied from Canopius.
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The Plane Talking report said the longevity of the ‘buyers’ market’ is in question.
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Crashes and collisions accounted for 63% of aviation insurance claims between 2019 and 2024.
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Ian George will be joined by Sawyer and Williamson as account executive and consultant respectively.
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This is Chubb’s second MGA deal in the past few months.
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Hallmark’s commercial business will be fronted by HDI subsidiaries.
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The market remains “delicately balanced” amid global conflicts and claims deterioration.
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Old Republic Aerospace CEO Ralph Sohl will continue in his current position.
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Thursday’s announcement means that the Russian insurer is off the hook for claims proceedings.
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The broker said reinsurance capacity has contracted over the past 18 months, and the once-diamond-hard aviation war market has started to soften.
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The move follows another incredibly soft year for the all-risk market as aviation war continues to harden.
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Rokstone, the Aventum Group’s (re)insurance MGA, has appointed Jordan Landford as global head of aviation, to be based in Atlanta, Georgia.
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Looking to the key Q4 renewal period, Gallagher said there is “little to suggest a drastic shift in conditions”.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Avenue Capital-backed Greylag claimed that insurers denied coverage of the two lost aircraft, which have a value of nearly $110mn and $120mn, respectively.
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The news comes a few weeks after this publication revealed that UIB was in advanced discussions to take over local broker South Re.
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The news comes two months after this publication revealed that UIB was exploring the acquisition of the Lima-based aviation-focused reinsurance intermediary.
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Mark Sperring’s promotion comes just a few months after AIG’s former head of global aerospace, Steve Eccles, left the carrier.
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The aviation war segment is also proving ‘treacherous’ to buyers, according to the latest Plane Talking report.
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The increase takes the carrier’s total reserves for the conflict to $145.6mn.
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The aviation programme manager will exclusively use SiriusPoint’s paper across the US.
