Aerospace
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Losses for 2020 were below average and capacity is stable, but the pandemic is likely to complicate deals.
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The airline account move comes as Howden strengthens its position in the airline space.
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Capacity has stabilised after several exits, and there are “shoots of recovery” in performance, but disagreement remains around rate adequacy.
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Earlier clean aviation renewals had ~50% increases, and those with exposure to the $2bn loss paid much larger increases.
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Despite hardening rates, insurers are “very polarised” about entering the class, CEO Laurent Lemaire says.
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The broker adds a mandate worth $10mn in premium after its Bristow Helicopter win.
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The MGA underwrites 100% of Dolijet’s GA and liability policy, with the combined single limit understood to be EUR15mn.
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United Airlines’ all-risks policy could face liability claims, while the Pratt & Whitney policy could see a partial grounding claim.
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Sharing confidential client information was endemic in the market until the 2017 investigation prompted it to be stamped out.
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Despite the grounding of multiple Boeing 777 planes, the incident is unlikely to result in another claim from Boeing, sources said.
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The intermediary's disclosure confirms the end of a process that began with dawn raids in the UK almost four years ago.
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Tim Wakeman has worked across the space and aviation sector at Aon, Willis and UIB.
