Insight and Intelligence on the London & International Insurance Markets

25 February 2018

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Aviation hull war market facing $70mn Siam Air loss

Marcus Alcock and Adam McNestrie 8 November 2017

The niche aviation hull war market is facing the prospect of an underwriting loss for 2017 following the confiscation of two Siam Air Transport planes, The Insurance Insider can reveal.

The Insurance Insider understands that XL Catlin leads the policy that will be impacted, with the cover brokered by Aon.

Although details of the confiscation remain unclear, it is understood that such action is normally undertaken for a breach of regulations or failure to settle a debt.

According to aviation...

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