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Aviation insurance market overview: Q2 2023

Marsh Specialty’s Aviation practice has published its latest insurance market update. The report provides an overview of the general aviation, airline, and aerospace insurance market conditions as we head into the third quarter.
Cover of Marsh Specialty's aviation insurance market update Q2 2023

Marsh's Aviation practice has published its latest insurance market update.

The report provides an overview of the general aviation, airline, and aerospace insurance market conditions as we head into the third quarter.

Key takeaways

  • At the end of the second quarter, the global aviation insurance market is divided.
  • So far this year, renewal results have varied depending on the type and level of cover purchased, as well as the company’s risk profile and claims experience.
  • Competition within the All Risks market continues to result in relatively stable pricing.
  • Conversely, the Hull War and Aviation War Liability (AVN52) markets face ongoing challenges driven by uncertainty around potential claims and limited capacity. As a result, many insurers are looking for rate increases and more restricted coverage.

This report has been produced by Marsh Specialty in the UK. Marsh Specialty is a trading name of Marsh Ltd.

This publication is not intended to be taken as advice regarding any individual situation and should not be relied upon as such. The information contained herein is based on sources we believe reliable, but we make no representation or warranty as to its accuracy. Marsh shall have no obligation to update this publication and shall have no liability to you or any other party arising out of this publication or any matter contained herein. Any statements concerning actuarial, tax, accounting, or legal matters are based solely on our experience as insurance brokers and risk consultants and are not to be relied upon as actuarial, accounting, tax, or legal advice, for which you should consult your own professional advisors. Any modelling, analytics, or projections are subject to inherent uncertainty, and any analysis could be materially affected if any underlying assumptions, conditions, information, or factors are inaccurate or incomplete or should change.
LCPA 23/379