Aviation
Ace appoints new aviation boss
Ace Global Markets has named Malcolm Brett as its new product line head of aviation following John Green’s decision to step down from the role.
Experts warn of further Icelandic volcano disruption
Experts from the newly formed UCL Institute for Risk and Disaster Reduction today warned that with the high frequency of eruptions of Katla, an eruption in the short term is a strong possibility.
Libya plane crash losses to hit Catlin, broked by Aon
A Libyan Airbus crashed when trying to land at Tripoli airport early on Wednesday, killing 103 passengers and crew aboard.
Hiscox to enter aviation as it reports £10m Deepwater hit
Hiscox’s gross written premiums grew year on year by 6.4% in local currencies to £504.1m in quarter one 2010(2009 Q1: £486.5 m).
Catlin confident Deepwater and Chile quake will have positive impact on pricing
Catlin this morning reported gross premiums written increased by 9% to US$1.3bn during the three month period ended 31 March 2010. Using constant exchange rates, gross premiums written rose by 5%.
ABI estimates £62m payout from volcanic ash disruption
The Association of British Insurers has said that the cost of volcanic ash disruption to travel insurers between the 15 – 21 April is likely to reach £62m.
No material impact on insurance sector from Icelandic volcano – Moody’s
The Eyjafjallajökull volcano in Iceland erupted causing a significant disruption for those individuals and businesses reliant on air travel, however, the extent to which the insurance industry will cover losses incurred from this disruption is expected…
Aerospace insurance costs continues steady descent
Reduction in exposure to risks throughout the aerospace sector means insurance costs are falling and further reductions are likely this year, according to Aon's Aerospace Insurance Market Outlook 2010.
Post in print - 22 April
Post reporter Dan Dunkley provides a quick overview of this week's major news including: Towergate brings in IPO experts, Capita insurance chief quits, Lib Dem's in mutual manifesto, Quinn faces UK underwriting decision and insurers assess volcano…
Airline body slams lack of co-ordination over volcanic groundings
The International Air Transport Association has criticised European governments for what it claims is a "lack of leadership in handling airspace restrictions in light of the Icelandic volcano eruption". It urged a re-think of the decision-making process.
Air travel facing “greatest disruption since 9/11” – Civil Aviation Authority
A huge ash cloud from an Icelandic volcano continues to cause further air travel chaos across Europe, leaving hundreds of thousands of passengers stranded.
Air travel facing “greatest disruption since 9/11” – Civil Aviation Authority
A huge ash cloud from an Icelandic volcano continues to cause further air travel chaos across Europe, leaving hundreds of thousands of passengers stranded.
Poland Central Bank governor in crash that killed Polish president
The governor of the Poland’s Central Bank is the latest major political figure to be found in the Polish plane crash that killed the country’s president in Russia this weekend.
Poland Central Bank governor in crash that killed Polish president
The governor of the Poland’s Central Bank is the latest major political figure to be found in the Polish plane crash that killed the country’s president in Russia this weekend.
JLT raids Willis for Middle East aviation expansion
Chris Subba Row will be joining JLT Aerospace as a partner, based in the Middle East
Aviation losses: accounting issues
The accounting issues surrounding lost profits, following the loss of a passenger plane, are complex and require detailed knowledge of the airline industry. Frédérique Hardy provides a guide to quantification.
LIU Europe expands into Birmingham
Liberty International Underwriters Europe has expanded its regional operation into Birmingham with the appointment of Dave Canning as regional senior underwriter.
Axa to appeal Air France victim payout
It follows the decision by a Rio civil court judge for it to pay $1.16m compensation for the death of the Rio state attorney-general.
Axa to appeal Air France victim payout
It follows the decision by a Rio civil court judge for it to pay $1.16m compensation for the death of the Rio state attorney-general.
QBE restructures European business
With immediate effect, QBE will operate four product underwriting divisions: casualty & motor; property; marine & energy; and reinsurance & specialist.
Cooper Gay to make cuts in aerospace division
Cooper Gay is making redundancies in its aerospace division, Reinsurance has learned.
Slower ascent for airline insurance in 2010
Aon's airline insurance market outlook 2010 report shows that the average lead hull and liability premium in the airline insurance market rose by 20% during 2009, taking total lead hull and liability to US$1.9 billion.
Novae profit declines
Pre-tax profits for 2009 at the (re)insurance group fell £9.6m due to first half losses but gross written premiums rose 10%
QBE Europe profits dip on back of increased claims
The business reported a rise in incurred claims to A$2.01bn (2008: A$1.76bn), whilst its expenses reduced to A$426m (2008: A$483m).