Aerospace
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Aviation insurers are re-evaluating grounding cover following the downing of an Ethiopian Airlines passenger jet.
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The German reinsurer has a 49.96 percent share of the Global Aerospace pool, which is the lead underwriter on Boeing’s liability policy. -
We are currently selling pea shooters when the client needs a bazooka.
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Underwriters are preparing for a major claim from Boeing and fear another loss-making year.
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Rafael Rebitzky will lead the aviation team until a successor is appointed.
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The FAA's move follows several other countries’ decision to ground the planes.
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The UK Civil Aviation Authority is among those to have blocked the aircraft from arriving, departing or flying over national airspace.
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One market representative is understood to have raised the issue with Lloyd’s performance management director Jon Hancock last week.
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The transaction will help quash concerns in the aviation market over the MMC-JLT merger.
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The grounding of the 737 Max 8 aircraft in multiple markets could lead to a major new manufacturer’s liability loss.
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The airline’s all-risks policy is led by Chubb and brokered by Willis Towers Watson.
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Arthur J. Gallagher has agreed to pay $251mn for the business in a sale designed to secure Brussels clearance of MMC's JLT takeover.
