In our latest insurance market update, our specialists provide insights on the final quarter of 2023 and look at what companies may expect in 2024.
The report offers a holistic overview of factors impacting the airline, general aviation, and aerospace insurance markets.
Key takeaways:
- Overall, the airline insurance market shows a continued desire to compete for market share despite some uncertainty surrounding losses and reinsurance costs.
- Generally, operators in the airport sector are continuing to transition from a post-pandemic recovery mindset to growth and preparation for the future, including investing in infrastructure.
- Despite rising operational costs and some uncertainty surrounding claim development, many aerospace insurers remain focused on retaining (or increasing) market share and are, therefore, still competing for written premiums.
- Ongoing geopolitical instability is leading to uncertainty in the Hull War and AVN52 markets; however, generally, the entry of new capacity is helping to control rate increases.
For more detailed analysis on the market conditions, download the report in full.