2012 AIRLINE HULL & LIABILITY INSURANCE MARKET REVIEW MAY 2013
|
|
- Linette Harmon
- 8 years ago
- Views:
Transcription
1 2012 AIRLINE HULL & LIABILITY INSURANCE MARKET REVIEW MAY 2013
2 2012 AIRLINE HULL & LIABILITY MARKET OVERVIEW All the premium figures shown are based on Net Leaders terms and percentage change figures are based on risks with an Average Fleet Value (AFV) in excess of US$100m (unless stated). In terms of losses, 2012 proved to be an even better year than 2011, (which was one of the safest for many years). Claims for the year totalled just US$929 million (including attritional losses). This is the lowest level of claims in 20 years. This compares with net premium income for the year in the region of US$1.75 billion (including an allowance for unknown risks and those with an AFV of less than US$100 million). For the second successive year insurers have made a technical surplus, which totals US$821 million for It should be remembered that this figure does not take into account insurers operating expenses. These are likely to be in the region of at least US$300 million annually and reduce the surplus to around US$520million. Hull & Liability and Claims (Calendar Year Basis) $3,000 $2,500 Net Claims Loss Ratio 131% 5 Year Summary : US$9,645m Inc. Claims: US$8,241m Loss Ratio: 85% Technical Surplus: US$1,404m 140% 120% $2, % 100% $1,500 $1,000 78% 57% 53% 80% 60% 40% $500 20% $ Net $1,945 $1,995 $1,995 $1,960 $1,750 Claims $1,511 $2,611 $2,068 $1,122 $929 Loss Ratio 77.7% 130.9% 103.7% 57.2% 53.1% Est Att Losses $425 $425 $425 $425 $475 0% Data as at s include estimates for unknown programmes. Historic claims include the estimated figure for attritional losses. Over the last five years we believe that insurers have made a technical surplus of US$1,400 million before expenses of at least US$1,500 million are taken into account. This does not take into account reinsurance recoveries made from Excess of Loss programmes, resulting in a small loss (although significantly reduced) over this five year period for insurers. levels in 2012 saw a significant reduction, falling by over US$200 million, a reduction of 12%, this was despite exposure growth for both fleet and passenger numbers. For programmes with an AFV in excess of US$100 million on a like for like basis, the Average Fleet Value (AFV) increased by 5% (+5% in 2011) and passenger numbers by 4% (+7% in 2011). In terms of rates this equated to a hull rate reduction of 16% (-9% in 2011) and calculated per passenger liability rates (the rate is calculated by dividing liability premium by passenger numbers) seeing a reduction of -12% (-8% in 2011).
3 Quarterly Breakdown for 2012 The annual renewal calendar continues to be dominated by the fourth quarter of the year with nearly 70% of the years premium generated during this time. The fourth quarter itself is dominated by the December renewals, when over 40% of the year s premium income is generated. Amongst the major airlines that changed their periods of insurance during 2012 was Kuwait Airways, originally due to renew in November, which opted to extend its 2011/12 period of insurance and will now renew in April Unlike 2011, which saw a lot of airlines change insurance groups, renewals in 2012 saw minimal change in the airlines included under the major group programmes. As a consequence the premium spread through the year remained consistant with only small changes Spread 1st Qtr 2.0% April 6.7% May 4.1% June 2.4% 2012 Spread 1st Qtr 2.5% April 7.5% May 4.2% June 1.4% December 40.8% July 12.1% August 2.3% December 42.2% July 12.1% August 2.1% September 1.6% October 7.8% September 1.7% October 7.3% November 20.4% November 19.0% However some of the smaller carriers in the world, which operate smaller, less valuable aircraft elected where possible, to renew their hull and primary liability programmes in the non traditional insurance markets around the world and only place excess liability and other coverages (Hull War & Excess AVN52) in the mainstream international markets. Quarterly Breakdown for Hull & Liability Net % Changes Total Quarterly % Change Annual Percentage Change for % 25% 20% 15% 14% 10% 5% 0% -5% -10% -15% -9% -10% 2012 Average -11.8% -13% -20% 1st Qtr nd Qtr rd Qtr th Qtr 2012 Data as at
4 Quarterly Breakdown for 2012 (Continued) As stated earlier overall airline premium levels in 2012 saw a significant reduction, reducing by over US$210 million, a reduction of -12%. In 2012 the fourth quarter generated US$1,085 million in premium. This was a reduction of -13% or US$168 million despite AFV increasing by 5% and projected passenger numbers by 4%. This equates to a reduction in hull rates of -17% and calculated per passenger liability rates also seeing a reduction of -17%. This compares with the first nine months of 2012, which generated US$495 million in premium, a reduction of -9% or a reduction of US$44 million, with AFV increasing by 6% and passengers by 5%. This equates to a reduction in hull rates of -12% and calculated per passenger liability rates seeing a reduction of -14%. It would appear that once again, despite insurers attempting to restrict the level of reductions seen in the fourth quarter they were unsuccessful and that renewals during this period achieved larger reductions than those renewing in the first nine months of the year. Many of the world s larger programmes (including the majority of the mega sized programmes) renew in the fourth quarter and these programmes benefit from economies of scale and generate a larger volume of premium, thus enabling brokers to leverage this premium and achieve higher rate reductions than the smaller programmes. Programmes with AFV between US$1,000m & US$100m AFV % Change PAX % Change 2011 Net 2012 Net Change % Change January 12.7% 25.0% % February 14.9% 13.3% % March 28.0% 26.4% % Q1 Summary 34.6% 11.4% % April 9.1% 8.0% % May 6.4% 6.1% % June -0.5% 2.7% % Q2 Summary 7.3% 7.1% % July 2.5% 1.1% % August 3.0% 4.5% % September 15.2% 15.2% % Q3 Summary 3.1% 2.6% % October 6.0% 1.8% % November 3.5% 2.8% % December 5.5% 4.0% % Q4 Summary 4.7% 3.5% 1, , % % 3.9% 1, , % Programmes with AFV between US$1,000m & US$100m The annual premium figures and percentage change figures advised earlier in this review includes airlines with an AFV in excess of US$100m. As a consequence the top 50 programmes in the data sample in terms of AFV have a significant impact on the annual figures for the year. We believe this results in misleading trends being advised for those carriers with an AFV below US$1,000 million. In the following figures we have extracted the data from the overall figures for these programmes. The reason for this distortion occurring is that despite accounting for 49% of our data sample of 203 renewals these programmes accounted for just US$278 million (or 18% of the US$1,585 million in premium generated in 2011 on a like for like basis).
5 Programmes with AFV between US$1,000m & US$100m (Continued) Fleets between US$100m & US$1,000m AFV % Change PAX % Change 2011 Net 2012 Net Change % Change January 12.7% 25.0% % February 14.9% 13.3% % March 54.4% 10.9% % Q1 Summary 34.6% 11.4% % April -9.6% 16.6% % May -0.1% 3.7% % June 6.8% -4.8% % Q2 Summary -5.3% 12.9% % July -27.2% -20.9% % August 30.9% -10.2% % September 14.3% 20.5% % Q3 Summary -16.9% -12.6% % October 50.2% 21.3% % November 12.4% 1.7% % December 6.0% 5.2% % Q4 Summary 9.4% 7.6% % % 5.7% % In 2012 the smaller carriers saw a premium reduction of 5% compared to a 12% premium reduction for carriers with larger AFV s, despite seeing smaller increases in hull exposures, as can be seen in the tables. As previously stated although this differential would seem unfair it is often a consequence of the larger carriers paying much larger volumes of premium than the smaller carriers. This enables the brokers to leverage the larger premium volumes in their negotiations with insurers and achieve larger rate reductions Hull & Liability Net % Changes for programmes with an AFV between US$1,000m & US$100m 30% Total Quarterly % Change Annual Percentage Change for AFV between US$1,000m & US$100m Annual Percentage Change for AFV Excess of US$100m 25% 20% 15% 16% 10% 5% 0% -5% -10% -15% -3% 2012 Average -4.8% -6% -9% 2012 Average -11.8% 1st Qtr nd Qtr rd Qtr th Qtr 2012 Data as at
6 2012 LOSSES Including three non-operational weather related losses there were 13 losses in 2012 with a reserve for each loss in excess of US$10 million (the same as 2011), compared to the 10 year average of 17 losses. Unusually there was not a single loss with an incurred reserve in excess of US$50m (including liability reserves) also saw one of the lowest numbers of passenger fatalities seen in many years, with 325 passenger deaths. This was significantly below the ten year average of 618 passenger fatalities. As a consequence the monetary value of all these losses totalled US$929 million. According to Ascend, this is in the lowest incurred claims figure for 20 years, with fatal accident and passenger fatality rates being the lowest ever. By their nature, losses are unpredictable, with liability reserves very much dependant on the location of loss and the nationalities involved. As can be seen in the following table the number of passenger fatalities has varied significantly in the past ten years but would appear to be on a downward trend, although it would only take the destruction of a wide-bodied aircraft with the death of all passengers on board to change this. No. of Losses excess of US$10m Total Reserves US$m Total No. of Passenger Fatalities Year , , , , , , ,180 1, , year Average 17 1, In possibly a sign of future events and potential losses, there were three significant non-operational weather related losses during 2012, which all took place in the USA and resulted in hull losses of around US$50m arising from hailstorms or hurricane related weather. Indicating how good a year 2012 was in terms of losses, the largest hull loss was the partial loss of a Corenden Airlines (Turkey) B at Antalya Airport, Turkey when a fire broke out on-board the aircraft on pushback in October. The worst loss in terms of the number of fatalities and the largest loss in terms of Hull & Liability reserves was the total loss of a MD83 aircraft operated by Dana Air (Nigeria) that crashed on final approach to Runway 18R at Lagos - Murtala Muhammed Airport, Nigeria killing all 147 passengers on board in June.
7 MARKET PREVIEW FOR 2013 There is very little renewal activity in the first quarter of the year with around 2% of the worlds airline premium likely to be generated. The quarter therefore has a minimal impact on the annual figures. April is the first time that any realistic analysis can be made with a number of significant renewals, including Aerolineas Argentinas, Air Mauritius, Hainan Airlines (China), IAG (British Airways, Iberia, Aer Lingus, LATAM (Chile & Brazil), Jet Airways (India), Qatar Airways and Spicejet (India) and for the first time Kuwait Airways. Air Berlin previously an April renewal, cancelled and replaced its policy in November 2012 to renew at the same time as its major shareholder Etihad Airways. With some of the information for April renewals still to be confirmed we believe that they have (in the main) continued to see reductions at around the same level of the fourth quarter of As ever it is likely that the April renewals will set the benchmark for the treatment that renewals will receive in the following months up to the end of September. Airline claims for 2013 were very low for the first quarter of 2013 and continued the trend of 2012, although the total loss of 2 aircraft (Lion Air and National Airlines) in April totalling around US$100 million has increased losses to around US$150m (excluding attritional losses), this is still a relatively low figure when compared to earlier years. This combined with the amount of overcapacity in the market is likely to further increase the pressure on insurers to continue reducing rates as the second quarter continues even if the market were to see a major loss or series of major losses.
8 ABOUT UIB Founded in 1987, United Insurance Brokers (UIB) is an independent, international insurance and reinsurance Lloyd s broker with headquarters in London and offices worldwide. UIB is a multicultural, multilingual global broker, sensitive to both regional and local issues. The UIB team of 400 people embraces 20 nationalities and offers fluency in 16 languages. In addition, our network of business partners reaches out to over 70 countries which further expands our knowledge of local markets. In the constantly evolving global insurance marketplace, UIB is renowned for obtaining the most competitive terms and broadest levels of coverage across all major business lines, from markets worldwide. We maintain the highest standards of innovation, flexibility and professionalism to deliver effective risk solutions backed by the personal service for which UIB has established an unrivalled reputation. UIB is accredited by Lloyd s and is authorised and regulated by the UK Financial Conduct Authority (FCA). UIB AVIATION CONTACTS Please contact us to discuss your insurance requirements. CRAIG FISHER - MANAGING DIRECTOR caf@uib.co.uk MAREK AMBROZEWSKI - DIVISIONAL DIRECTOR marek@uib.co.uk STEPHEN BRADLEY - DIVISIONAL DIRECTOR sfb@uib.co.uk EDITOR: BRAD OTTOLANGUI - ASSOCIATE DIRECTOR bxo@uib.co.uk UIB United Insurance Brokers Ltd. 69 Mansell Street London, E1 8AN, England T: +44 (0) F: +44 (0) E: enquiries@uib.co.uk United Insurance Brokers Limited is an accredited Lloyd s insurance broker and is regulated by the Financial Conduct Authority (FCA). Company Registration Number:
2010 AIRLINE HULL & LIABILITY INSURANCE MARKET REVIEW MARCH 2011
2010 AIRLINE HULL & LIABILITY INSURANCE MARKET REVIEW MARCH 2011 Algeria - Brazil - Colombia - Dubai - Germany - India - Japan - Korea - Malaysia - Mexico - Romania - Singapore - Sweden - Switzerland -
More informationUIB AVIATION AIRLINE RISK PROFILE. Dependable Corporate Insurance in any language
A guide to providing the necessary information, to present to aviation insurers Dependable Corporate Insurance in any language Algeria - Brazil - Colombia - Dubai - Germany - India - Japan - Korea - Malaysia
More informationRecent Developments in the Aviation Insurance Industry
Recent Developments in the Aviation Insurance Industry By: Paul Hayes, Airclaims Ltd. Triant Flouris, San Jose State University Thomas Walker, Concordia University Overview We examine the inner workings
More informationHow To Predict The Insurance Market
Current Market Conditions The market has only achieved a single digit increase in premium for 2010 so far This compares to +20% witnessed on average in 2009 Excess capacity is holding back the impetus
More informationLLOYD S IN THE US MARKET
LLOYD S IN THE US MARKET Contents 1 About Lloyd s 2 How Lloyd s works 3 Financial strength and ratings 3 Global reach 4 Multiple classes, maximum innovation 5 Lloyd s US a major player 6 Contact us ABOUT
More informationAirline Insurance. Return of the global trend? Market Outlook 2014. Market Outlook 2014. Overview. Analysis. Aon Risk Solutions
Aon Risk Solutions Airline Insurance Market Outlook 2013 Market Outlook 2014 Airline Insurance Overview Market Outlook 2014 Return of the global trend? Analysis Overview. Contents. The aerospace industry
More informationPROTECTION & INDEMNITY INSURANCE
PROTECTION & INDEMNITY INSURANCE Whereas Hull & Machinery insurance covers shipowners against loss of or damage to their own ship, Protection & Indemnity Insurance (P&I) protects the Owner for his / her
More informationHow To Get A Good Deal On Insurance In Korea
Our specialist insurance services for Property risks About Us 1 Our Service 2 Manufacturing and Process Industries 3 Airports and Ports 4 Agricultural Industries 5 Hi-tech and Bio-tech 6 Heavy Metal Industries
More informationUK INSURANCE KEY FACTS 2014. UK Insurance KEY FACTS. Follow us on Twitter @BritishInsurers
UK INSURANCE KEY FACTS 2014 UK Insurance KEY FACTS 2014 3 @BritishInsurers Follow us on Twitter @BritishInsurers ASSOCIATION OF BRITISH INSURERS About the ABI The Association of British Insurers is the
More informationLLOYD S IN CANADA Contents
LLOYD S IN CANADA Contents 1 About Lloyd s 2 How Lloyd s works 3 Financial strength and ratings 3 Global reach 4 Multiple classes, maximum innovation 5 Lloyd s Canada a major player 6 Contact us ABOUT
More informationAerospace Insurance Market report 2014
Aon Risk Solutions Aerospace Insurance Market report 2014 Serene, tranquil, calm Contents. Market report 2014 Aerospace Insurance Market report 2014: Serene, tranquil, calm Foreword 2 Executive summary
More informationMotor Fleet Insurance
Motor Fleet Insurance Summary of Cover A commercial motor insurance package available for Partnerships or Companies who require more than four vehicles to be insured under the one Policy. Why choose the
More informationThe Airport Insurance Market a London perspective
ace global markets The Airport Insurance Market a London perspective January 2008 Simon Abbott Senior Underwriter Introduction The London Insurance Market Lloyd s The London Company market The Placing
More informationWILLIS RETAIL PRACTICE REDUCING THE COST OF RISK
WILLIS RETAIL PRACTICE REDUCING THE COST OF RISK REDUCING THE COST OF RISK As a retailer, you work hard to build and protect your business and the ability to deliver on your brand promises is key to the
More informationManaged Aircraft Ownership : Insurance Considerations
Managed Aircraft Ownership : Insurance Considerations Introduction Occasionally some questions arise regarding stand-alone aircraft insurance policies placed by the aircraft owner versus a commercial aircraft
More informationPROFESSIONAL INDEMNITY INSURANCE PROPOSAL FORM FOR INSURANCE INTERMEDIARIES
PROFESSIONAL INDEMNITY INSURANCE PROPOSAL FORM FOR INSURANCE INTERMEDIARIES - 1 - P a g e CONTENTS 1. ADVICE ON COMPLETING THE PROPOSAL FORM 2. PROPOSAL FORM 3. BINDING AUTHORITY QUESTIONNAIRE 4. OTHER
More informationPersonal insurance for those with more to protect
Personal insurance for those with more to protect A businesslike approach to your personal insurance UKGlobal Private Clients is our personal insurance solution for those who have more to protect, where
More informationMOTOR FLEET INSURANCE
MOTOR FLEET INSURANCE Summary of Cover A commercial motor insurance package available for Partnerships or Companies who require more than four vehicles to be insured under the one Policy. Why choose the
More informationKEY FACTS 2015. UK Insurance & Long Term Savings. Key Facts 2015. Follow us on Twitter @BritishInsurers
KEY FACTS 2015 UK Insurance & Long Term Savings Key Facts 2015 @BritishInsurers Follow us on Twitter @BritishInsurers ASSOCIATION OF BRITISH INSURERS The UK insurance and long term savings industry is
More informationMETLIFE EMPLOYEE BENEFITS PROVIDING CERTAINTY FOR EMPLOYEES
METLIFE EMPLOYEE BENEFITS PROVIDING CERTAINTY FOR EMPLOYEES 3 IN AN UNCERTAIN ECONOMIC ENVIRONMENT, PROVIDING CERTAINTY FOR EMPLOYEES IS ESSENTIAL Employees are an organisation s most valuable asset.
More informationTrust us to protect your business
Trust us to protect your business 2 bpif insurance services Trust us to protect your business BPIF Chief Executive s statement you can receive a tailored offering coupled with exclusive benefits at a competitive
More informationSPECIALIST INSURANCE SERVICES TRUCKING WWW.PRICEFORBES.COM
SPECIALIST INSURANCE SERVICES TRUCKING WWW.PRICEFORBES.COM CONTENTS CONTENTS...3 ABOUT US...5 OUR APPROACH...6 CLAIMS...9 TRUCKING...12 OUR EXPERTISE...14 3 ABOUT US Price Forbes & Partners is an independent,
More informationSupport Material. May 2012
Support Material May 2012 FORWARD-LOOKING STATEMENTS This document contains forward-looking statements, including with respect to the negotiation, implementation and effects of the proposed combination.
More informationHeathrow and Dubai the World s Hub Airports
Heathrow and Dubai the World s Hub Airports Dubai International has grown rapidly in recent years and is now poised to overtake Heathrow as the world s busiest international airport. In this report, ACL
More informationGlobal Marine Insurance Report. Astrid Seltmann Fact and Figures Committee: Analyst/Actuary, Cefor - The Nordic Association of Marine Insurers, Oslo
Global Marine Insurance Report Astrid Seltmann Fact and Figures Committee: Analyst/Actuary, Cefor - The Nordic Association of Marine Insurers, Oslo Warming up Find a suitable Shakespeare quote! IUMI and
More informationCAUSES OF AIRCRAFT ACCIDENTS
CAUSES OF AIRCRAFT ACCIDENTS 10 th Week (9.00 am 10.30 am) 3 rd Oct 2009 (Friday) COURSE : DIPLOMA IN AVIATION MANAGEMENT MODULE : AVIATION SAFETY AND SECURITY (AVS 2104) 1 LEARNING OBJECTIVES Understand
More information2015-2018 Annual Insurance Program renewal. Government Management Committee. Deputy City Manager & Chief Financial Officer
STAFF REPORT ACTION REQUIRED 2015-2018 Annual Insurance Program renewal GM3.23 Date: March 23, 2015 To: From: Wards: Reference Number: Government Management Committee Deputy City Manager & Chief Financial
More informationManaging Aviation Risks in the Healthcare Industry
Managing Aviation Risks in the Healthcare Industry By Darryl A. Abbey, Senior Vice President Aviation is not the most immediate area that springs to mind when one thinks about risk management in the healthcare
More informationTaiwan Non-Life Insurance Report 2010 1. Non-Life Insurance Overview. (1) Premium Income
Taiwan Non-Life Insurance Report 2010 1. Non-Life Insurance Overview (1) Premium Income In 2010, the Taiwan non-life insurance companies together reported TWD 105.81 billion in premium income, up by TWD
More informationAspen Insurance Holdings Limited
Aspen Insurance Holdings Limited Chris O Kane, Chief Executive Officer Julian Cusack, Chief Financial Officer February 2007 Safe Harbor Disclosure This presentation contains non-gaap measures and is for
More informationUIB UK PROFESSIONAL INDEMNITY
l It is very important that you disclose fully and accurately all material facts. If you require more space please continue on your headed paper, then sign and attach to this form. Material facts are those
More informationDirectors & Officers Liability (D&O) Insurance. Benchmarking Report 2013
Directors & Officers Liability (D&O) Insurance Benchmarking Report 2013 Contents 1. Executive Summary...4 2. D&O benchmarking survey...6 3. D&O insurance arrangements...8 4. Risk manager role and responsibilities...10
More informationLloyd s : The world s specialist insurance market
< Picture to go here > Lloyd s : The world s specialist insurance market Meet The Market San Francisco Glenn Dorr, Northeast Director, Lloyd s Lloyd s 1 1. What is Lloyd s? 2. What makes us unique? 3.
More informationRisk Management Annual Report to the Audit and Insurance Committee Property and Liability Risk Financing Program Insurance Year 2013-2014
A&I 12/19/14 Annual Report to the Audit and Insurance Committee Property and Liability Risk Financing Program Insurance Year 2013-2014 The department coordinates the University s comprehensive property,
More informationAn ISO 9001 : 2008 Certified Company WINNING AND SUSTAINING CUSTOMER TRUST
An ISO 9001 : 2008 Certified Company WINNING AND SUSTAINING CUSTOMER TRUST. 15 YEARS OF INSURANCE BROKING WELCOME TO INDIA INSURE India s first Licensed Insurance Broker with a Team of 150 professionals
More informationFOR COMMERCIAL LINES INSURANCE
FOR COMMERCIAL LINES INSURANCE Martyn Brooks Director, Broadsure Direct When I think of Blink I think of professionalism, support, market knowledge, agencies and opportunities to develop profitable new
More informationUnderstanding Commercial Insurance Premiums. Sustainable pricing for customers and shareholders
Understanding Commercial Insurance Premiums Sustainable pricing for customers and shareholders Opening the books Risk and uncertainty are part of everyday life. There are some risks we are all prepared
More informationA Guide to Legal Malpractice Insurance
A Guide to Legal Malpractice Insurance Legal Malpractice Insurance Terms Admitted Carrier A carrier licensed and authorized to write insurance in a particular state using rates, rules and forms that have
More informationJLT Mining. The Canadian economy is, in part, driven by a robust and sophisticated Mining Industry.
Mining Jardine Lloyd Thompson (JLT) is an international group of Risk Specialists and Employee Benefits Consultants and one of the largest companies of its type in the world. We offer a distinctive choice
More informationHoliday and Home Parks Insurance
Holiday and Home Parks Insurance You can t beat experience You can t beat experience We know that the holiday and home parks business is unique, with its own set of challenges and complexities. That s
More informationOur strategy and objectives
British Airways 2009/10 Annual Report and Accounts 27 Our strategy and objectives our business FOCUSED ON OUTSTANDING CUSTOMER SERVICE Meeting the rising expectations of our customers remains central to
More information2014-15 Property and Liability Insurance Program
A&I 12/18/15 2014-15 Property and Liability Insurance Program The Risk Management department coordinates the University s comprehensive risk financing program which includes the purchase of commercial
More informationINDIVIDUAL DISABILITY INCOME INSURANCE LAPSE EXPERIENCE
A 2004 Report INDIVIDUAL DISABILITY INCOME INSURANCE LAPSE EXPERIENCE A JOINT STUDY SPONSORED BY LIMRA INTERNATIONAL AND THE SOCIETY OF ACTUARIES Marianne Purushotham, FSA Product Research 860 285 7794
More informationHalf Year Results 30 th September 2012
Half Year Results 30 th September 2012 Full Year Results 2012 1 Aer Lingus On 19 th June 2012, Ryanair launched an all cash offer for Aer Lingus Group Plc. Since this offer is subject to Irish Takeover
More informationAbout Blythin & Brown. Why choose the right broker?
About Blythin & Brown Blythin & Brown has built up an enviable reputation over 40 years providing unparalleled service to our clients both locally and throughout the UK. Our people are our strength, enthusiastic
More informationPrivate Motor Vehicle Excess Protect
Private Motor Vehicle Excess Protect Insurance Policy Flux Direct 2 The Causeway, Bishops Stortford, Herts, CM23 2EJ In the event of a claim please call: 0844 888 7361 Customer Service: 0800 089 0154 Or
More informationInternational Insurance Brokers. Broker at LLOYD S
G L O B A L International Insurance Brokers Broker at LLOYD S About the Crescent Global Group Crescent Global is a Lloyd s accredited broker formed in 1998 to provide specialist insurance and reinsurance
More informationThe Airport Casualty Market Overview
The Airport Casualty Market Overview ACI-NA Annual Risk Management Conference West Palm Beach, Florida John C. Geisen Senior VP Aon Aviation January 2014 Prepared by Aon Risk Solutions Global Broking Centre
More informationFOR COMMERCIAL LINES INSURANCE
FOR COMMERCIAL LINES INSURANCE Martyn Brooks Director, Broadsure Direct When I think of Blink I think of professionalism, support, market knowledge, agencies and opportunities to develop profitable new
More informationTHE REINSURANCE PRINCIPLES
THE REINSURANCE PRINCIPLES Contents 1. Concepts of Insurance and Reinsurance 2. Functions of Reinsurance 3. Types & structures of Reinsurance 4. Introduction to Pricing 5. Introduction to Portfolio Strategy
More informationACI Airport Statistics and Forecasting Workshop AVIATION STATISTICS & DATA: A VITAL TOOL FOR THE DECISION MAKING PROCESS Narjess Teyssier ICAO Chief Economic Analysis & Policy Section London, 3 rd March
More informationBBVA Bank Loan Scheme
BBVA Bank Loan Scheme caeoaa.com/oxford Key Loan Terms CAE Oxford Aviation Academy has established a bespoke bank loan scheme with BBVA bank which offers students access to funding and alleviates the
More informationFOR PERSONAL LINES INSURANCE
FOR PERSONAL LINES INSURANCE Neal Lowe, Managing Director, Needham Commercial Insurance Brokers What I really value about Blink, is that they re always proactively on the look-out for new markets and products
More informationUK Key Facts 2015. Key Facts. Comprehensive risk management services worldwide. The Allianz experts for Corporate and Specialty Risks
Allianz Global Corporate & Specialty www.agcs.allianz.com Key Facts UK Key Facts 2015 April 2015 Comprehensive risk management services worldwide The Allianz experts for Corporate and Specialty Risks Allianz
More informationPRESS RELEASE 3M 2015 results Ageas UK, 8 May 2015
PRESS RELEASE 3M 2015 results Ageas UK, 8 May 2015 Profitable first quarter for Ageas UK Executive Summary Increased year on year profit reflecting benign weather impact Net profit of GBP 12.0 million
More informationEXCESS LIABILITY INSURANCE PROGRAM FOR OPERATIONS
Metro Los Angeles County Metropolitan Transportation Authority One Gateway Plaza Los Angeles, CA gooiq I FINANCE AND BUDGET COMMITTEE JUNE 15,2011 SUBJECT: ACTION: EXCESS LIABILITY INSURANCE PROGRAM FOR
More informationEnjoy the peace of mind that comes from being WEHBE insured
COMPANY PROFILE Insured. Secured. Over the years WEHBE Insurance Services has grown and evolved, and is today considered one of the most renowned names in the UAE insurance intermediary industry. As an
More informationQUESTIONS AND ANSWERS ON THE ESTABLISHMENT OF A GLOBAL SCHEME IN THE FIELD OF AVIATION WAR RISK INSURANCE
QUESTIONS AND ANSWERS ON THE ESTABLISHMENT OF A GLOBAL SCHEME IN THE FIELD OF AVIATION WAR RISK INSURANCE Note. This document is intended to provide additional information on the proposal of the Special
More informationBreaking the Mould...
Breaking the Mould... tailor-made insurance for the plastics industry Reducing your insurance costs, through greater understanding Plastics Manufacturer is an exclusive insurance scheme not available via
More informationForming a Captive: A Strategic Solution for Closely Held Companies
Forming a Captive: A Strategic Solution for Closely Held Companies Risk Management Answers Risk Solutions to Reduce Cost and Increase Profit RiskManagementAnswers.com Stephen B. Paulin, CIC spaulin@sullicurt.com
More informationCLIENT TERMS OF BUSINESS AGREEMENT
CLIENT TERMS OF BUSINESS AGREEMENT General Information Seascope Insurance Services Limited (SIS) is an independent Lloyd s broker and is not tied to any one insurer. SIS has received a Grant of Permission
More informationGLOBAL SPECIALTY LINES GLOBAL EXPERTISE, DELIVERED LOCALLY.
GLOBAL SPECIALTY LINES GLOBAL EXPERTISE, DELIVERED LOCALLY. 02 Global expertise, delivered locally. introducing rsa RSA is one of the world s leading multinational quoted insurance groups. The services
More informationCITY CLERK. 2000-2001 Insurance Program Renewal
CITY CLERK Clause embodied in Report No. 5 of the, as adopted by the Council of the City of Toronto at its regular meeting held on April 23, 24, 25, 26, 27, and its special meeting held on April 30, May
More informationAIRLINE INSURANCE MARKET OVERVIEW
THE NEWSLETTER FOR THE AIRLINE INSURANCE INDUSTRY March 2015 AIRLINE INSURANCE MARKET OVERVIEW 2014 was a year that, come the end of it, would have surprised many stakeholders. Having started with a premium
More informationSkies are safer, but new risk environment and rising cost of claims challenge aviation industry, says Allianz report
Allianz Global Corporate & Specialty Press Release Skies are safer, but new risk environment and rising cost of claims challenge aviation industry, says Allianz report This year s aviation losses contradict
More informationGlobal Fatal Accident Review 2002 to 2011 CAP 1036
Global Fatal Accident Review 2002 to 2011 CAP 1036 Global Fatal Accident Review 2002-2011 www.caa.co.uk June 2013 Civil Aviation Authority 2013 All rights reserved. Copies of this publication may be reproduced
More informationFleet Excess Protect
Fleet Excess Protect Policy Wording Thank you for choosing Fleet Excess Protect Insurance. The information in this policy wording contains important information and we have made it as easy as possible
More informationcorporate travel insurance A buyer s guide Keeping your employees protected
corporate travel insurance A buyer s guide Keeping your employees protected A buyer s guide 3 corporate travel in these troubled times, it makes sense to purchase a corporate travel policy for your employees
More information+Health. Accident. Mitsui Sumitomo. Caring for people, caring for business. Mitsui Sumitomo at Lloyd s Excellence in all we do.
Mitsui Sumitomo Accident+Health Mitsui Sumitomo Accident +Health Caring for people, caring for business Mitsui Sumitomo at Lloyd s Excellence in all we do Why choose Mitsui Sumitomo Insurance (UK)? If
More informationPlease complete the whole form to the best of your ability, clarifying any areas where necessary and continuing on a separate sheet if required.
Professional Indemnity Proposal Form Insurance Brokers Please complete the whole form to the best of your ability, clarifying any areas where necessary and continuing on a separate sheet if required. A
More informationPROFESSIONAL INDEMNITY INSURANCE PROPOSAL FORM FOR INSURANCE INTERMEDIARIES
PROFESSIONAL INDEMNITY INSURANCE PROPOSAL FORM FOR INSURANCE INTERMEDIARIES Howden Insurance Brokers Limited is an official scheme provider of Professional Indemnity for BIBA members Please complete this
More informationProperty Insurance Market Report United States. Summary and Forecast Q1 14
Property Insurance Market Report United States Summary and Forecast Q1 14 Property Summary Property underwriters enjoyed a profitable 2013 due to lower losses and higher rates, which followed two-plus
More informationFinnair Group Financial year January 1-December 31, 2001
Finnair Group Financial year January 1-December 31, 2001 State of the airline industry Business travel dropped dramatically Events of September 2001 From beauty contest to fight for survival Production
More informationWILLIS RETAIL PRACTICE ADVICE AND PROTECTION FOR THE RETAIL SECTOR
WILLIS RETAIL PRACTICE ADVICE AND PROTECTION FOR THE RETAIL SECTOR CUSTOMER RELATIONSHIPS. BRAND. REPUTATION. PROFIT MARGIN. PROFIT MARGIN. AS A RETAILER YOU WORK HARD TO GROW THEM - AS AN INSURANCE AND
More informationPresentation on Insurance Provision by Lloyd s of London in the Republic of Iraq. 20 December,2009
Presentation on Insurance Provision by Lloyd s of London in the Republic of Iraq 20 December,2009 Who are Culver? Culver Iraq is an Iraqi registered British owned insurance broker Culver are Lloyd s brokers
More informationRenaissanceRe Syndicate 1458
RenaissanceRe Syndicate 1458 RenaissanceRe Syndicate 1458 RenaissanceRe operates at Lloyd s of London through Syndicate 1458, which was established in 2009. RenaissanceRe was founded in 1993 in Bermuda
More informationFederal Aviation Administration Aviation Insurance Program
Federal Aviation Administration Aviation Insurance Program 1 General Authority Chapter 443 of title 49, U.S.Code Insurance and reinsurance Any risk from the operation of an American or foreignflag aircraft
More informationRecent Developments in the Aviation Insurance Industry
Recent Developments in the Aviation Insurance Industry Paul Hayes a, Triant Flouris b, Thomas Walker c,* a Airclaims Limited, London TW6 2AS, United Kingdom b San Jose State University, Department of Aviation
More informationThe Challenge of the Low-cost Airlines
The Challenge of the Low-cost Airlines Air Transport Management Seminar Universidade Lusofona Lisbon 7th - 11th January 2008 Dr Keith Mason Director Business Travel Research Centre www.businesstravelresearch.com
More informationRFIB > From the big picture - to the fine detail. Delivering our knowhow to strengthen your business. RFIB > Insurance & reinsurance knowhow
RFIB > From the big picture - to the fine detail Delivering our knowhow to strengthen your business RFIB > Insurance & reinsurance knowhow RFIB > Insurance & reinsurance knowhow Our ability to deliver
More informationUK Marine Insurance 2012
Brochure More information from http://www.researchandmarkets.com/reports/2132094/ UK Marine Insurance 2012 Description: This report contains an overview of the total size and profitability of the UK marine
More informationBoard Approved June 9, 2014
Board Approved June 9, 2014 Our casualty insurance package policy includes coverage for General Liability, Educators Legal, Employment Practices, Automobile Liability, Auto Physical Damage and Workers
More informationA Business Health Insurance Solution from The DeHayes Group. solutions. control affordable. security capital protection. wellness. keys.
DEHAYES CAPTIVE INSURANCE PROGRAM A Business Health Insurance Solution from The DeHayes Group dehayes care efficiencies predictability captiveprofit control affordable insurance safety income wellness
More informationUIB UK PROFESSIONAL INDEMNITY
l It is very important that you disclose fully and accurately all material facts. If you require more space please continue on your headed paper, then sign and attach to this form. Material facts are those
More informationAmlin plc. Numis Non-life Insurance Briefing 13 January 2011. Charles Philipps, CEO
Amlin plc Numis Non-life Insurance Briefing 13 January 2011 Charles Philipps, CEO This presentation contains or may contain forward-looking statements. It is important to note that the Company s actual
More informationTerms of business agreement - Commercial clients
Terms of business agreement - Commercial clients Please read this document carefully. It sets out the terms on which Finch Insurance Brokers Ltd agree to act for clients and contains details of our responsibilities
More informationThe Professionals policy is available for small businesses with up to 8 people and a turnover of 500,000 or less.
PROFESSIONALS Summary of Cover The Professionals policy is available for small businesses with up to 8 people and a turnover of 500,000 or less. Why choose AXA s Professionals policy? Tailor-made for your
More informationA Guide to Legal Malpractice Insurance
A Guide to Legal Malpractice Insurance Legal Malpractice Insurance Terms Admitted Carrier A carrier that is licensed and authorized to write insurance in a particular state using rates, rules and forms
More informationDnata Airport Operations
Dnata Airport Operations Dnata Airport Operations, the ground handling agent at the Dubai International Airport and employer of more than 6,500 people, has played a significant and leading role in the
More informationLawyers Professional Liability Insurance and Risk Management Services
Lawyers Professional Liability Insurance and Risk Management Services International Insurance Brokers Ltd Established in London in 1996, are international insurance brokers specializing in Lawyers Professional
More informationThe Airmic Casualty Insurance Programmes 2011 - A Quick Overview
1 Contents Introduction and Executive Summary 1 Page Demographics 2 Casualty Programme Features / Structure of Casualty Programme 4 Programme Administration 9 Limits 11 Retentions 13 Premiums 14 Captives
More informationMarine. EssEntial health, injury, baggage & abandonment cover for your crew
Marine EssEntial health, injury, baggage & abandonment cover for your crew www.crewsure.com Effective 01.10.2012 KEY FEATURES Medical expenses. Accidents causing death or permanent disability. Baggage
More informationPrivate Motor Insurance Statistics. Private Motor Insurance Statistics
2009 Private Motor Insurance Statistics Contents Executive Summary... 1 1. Introduction... 3 2. General Market Overview... 4 3. Premium Income and Claim Cost Development... 7 3.1 Premium income... 8 3.2
More informationUAS Insurance - a business necessity. Unmanned Aircraft Systems Typical risks and insurance issues for commercial activities.
UAS Insurance - a business necessity Unmanned Aircraft Systems Typical risks and insurance issues for commercial activities Adam Piper ACII September 2012 Agenda Introductions Current commercial activities
More informationHow Elite Life & Disability Insurance Advisors Leverage Lloyd s of London To Enhance Their Best Client Relationships And Grow Their Practices
How Elite Life & Disability Insurance Advisors Leverage Lloyd s of London To Enhance Their Best Client Relationships And Grow Their Practices Published by: Exceptional Risk Advisors One International Boulevard
More informationMANAGING EMPLOYEE RISKS
MANAGING EMPLOYEE RISKS FOCUSING ON MULTINATIONAL SOLUTIONS Multinational Benefits, Multinational Risks Building a successful benefits strategy comes with challenges, opportunities and risks, even within
More informationRemarks by George Quinn (slides 2, 11 and 12), Chief Financial Officer, and Vibhu Sharma (slides 3 to 10), Group Controller of Zurich Insurance Group.
Q1 Results 2014 Remarks by George Quinn (slides 2, 11 and 12), Chief Financial Officer, and Vibhu Sharma (slides 3 to 10), Group Controller of Zurich Insurance Group. May 15, 2014 Slide 2: Key messages
More informationSPECIALIST INSURANCE SERVICES
SPECIALIST INSURANCE SERVICES energy WWW.PRICEFORBES.COM contents about us...5 our approach...6 five steps to service delivery...8 upstream & Mid-stream operations...13 downstream operations...14 claims...15
More informationOut of Control. HANG ON! It s GOING TO GET ROUGH! DISASTER is just ahead! DON T JUST SIT THERE DO SOMETHING!
Out of Control Brent Anderson HANG ON! It s GOING TO GET ROUGH! DISASTER is just ahead! DON T JUST SIT THERE DO SOMETHING! No, we are not talking about the aircraft we re flying, but rather the way our
More information