Overview to the sector
In the last edition of Plane Talking, we reported that the Russia/Ukraine conflict had brought uncertainty to the market outlook and pricing trend, and as we reach the halfway-point of 2022, the situation hasn’t resolved. These losses continue to be seen by insurers as a significant unknown and ultimately it is their cumulative size that will affect how the market behaves and to what degree (if any) rates will rise and conditions will harden.
For now, the core rating trends in most aviation sectors remain relatively stable, albeit insurers are reacting in some coverages such as War where we are now seeing significant rating uplift. As the pace of development of Russia related claims becomes clearer, the anticipation is that the market will see the onset of some upward pricing pressure.
In our latest edition of Plane Talking we cover a broad range of topics from commentary on current aviation market conditions and losses, to a summary of the latest market moves and Gallagher news. We’re also pleased to present coverage from our Gallagher Re and D&O colleagues, as well as feature articles from Richard Schönherr, Head of Aviation Direct at Munich Re and Matthew Borie, Chief Intelligence Officer, Osprey Flight Solutions.