Leading London market aviation insurers Chubb and Tokio Marine Kiln have gone out to market early to renew their 1.4 incepting excess of loss towers, The Insurer can reveal.

The “Cold War resurgence” across the geopolitical landscape has heightened both the exposure and the necessity of many insurance lines into 2025, law firm DAC Beachcroft has said in its insurance predictions for the year ahead.

The multi-billion-dollar London court action between some of the world’s biggest aircraft lessors and their insurers over jets stranded in Russia has been forced to adjourn, a move which will delay the industry’s search for much-needed clarity on Russia-Ukraine exposures, The Insurer can reveal.

Chubb leads the DHL aviation cargo insurance program that is likely to be triggered after a SwiftAir-operated Boeing plane crashed this morning near Vilnius International Airport in Lithuania, The Insurer understands.

Aviation-focused Itasca MGA – part of the Fidelis Partnership’s Pine Walk platform – has supported Elevate Capital Partners on a financing solution in respect of two Embraer aircraft.

Peter Welton, Axa XL’s marine, energy and aviation CUO for the UK and Lloyd’s, has departed the business,

Liberty Specialty Markets (LSM) has replaced Axa XL as the lead underwriter on the airline all-risks cover for Algerian flag carrier Air Algérie,

Competition among insurers to maintain market share has led to an acceleration of rate softening during fourth quarter airline all-risks renewals, most acutely in the form of increased market verticalisation, according to WTW’s John Rooley.

Competition among insurers to maintain market share has led to an acceleration of rate softening during fourth quarter airline all-risks renewals, most acutely in the form of increased market verticalisation, according to WTW’s John Rooley.

Continued capacity growth has led to further competition in the airline market, with the upcoming reinsurance renewals set to play a critical role in defining the sector’s future underwriting direction, according to Gallagher Specialty.

Aviation lessor AerCap has said it would be “impossible” for insurers to deny liability in its multi-billion-dollar claim for aircraft stranded in Russia, telling London’s High Court that it was “inconceivable” that its losses would not be covered under either its all-risk or war coverages.

Ongoing Russia-Ukraine-related legal action continues to cast a shadow over the build-up to what is otherwise expected to be a stable aviation reinsurance renewal at 1 January.

Aviation war insurers have told London’s High Court that losses suffered by aircraft lessors over planes stranded in Russia were caused by the “commercial decisions” of domestic airlines and not a politically motivated act of war, arguing that liability therefore falls on all-risk policies.

Aviation insurers have told the High Court that losses suffered by global leasing firms after their aircraft became stranded in Russia are the direct result of orders issued by Russian President Vladimir Putin in retaliation for Western sanctions following the war in Ukraine.

2 October (Reuters) by Kirstin Ridley and Sam Tobin – Aircraft lessor Dubai Aerospace Enterprise (DAE) has secured a settlement with insurer Axa over jets retained in Russia since the 2022 invasion of Ukraine, raising the prospect of further deals as a London High Court "mega trial" kicked off.