Fidelis discloses $135mn Ukraine loss
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Fidelis discloses $135mn Ukraine loss

Fidelis insurance group_2023.jpg

Fidelis Group has revealed a $135mn reserve for potential 2022 losses stemming from the Ukraine war, the majority of which relates to leased aircraft stranded in Russia.

The disclosure comes amid multiple legal actions between insurers and airplane lessors over whether the grounding of the aircraft in Russia constitutes a loss, and if so, how policies should respond.


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