Aerospace
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The China Development Bank-owned lessor received $195mn for four aircraft leased by Aeroflot.
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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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The MGA will be Fidelis MGU subsidiary Pine Walk’s eighth launch.
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Leahy joins the carrier after just over a year at TMK as divisional head of airline.
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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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Rate changes across the aviation all-risk and war markets remain wildly divergent during the key Q4 renewal period, sources told this publication.
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The capacity, provided by Allianz, will allow Hive to deepen its exposure in the class.
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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 lessor will continue to pursue its litigation in the Irish courts under its own insurance policies.
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The A-rated capacity is designed to support the AAM market and is ready for submissions.
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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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Several London insurers, including Tokio Marine Kiln, Axa XL, Munich Re, Starr International and Chaucer, are named in the new case.