The primary aviation market remained soft in 2011 according to research carried out by Guy Carpenter Capital Ideas.
The 2012 January renewals saw average premium reductions of 8 percent on expiring policies, which Guy Carpenter attributed to the lack of major incidents in the 2010/2011 underwriting year.
The report predicted that if market conditions and capacity levels remain static, airlines with renewals in the first quarter of 2012 could see a level of premium reductions similar to those seen in 2011.
However, because fewer renewals occur in the first quarter, the report acknowledged that renewal trends for the period are not an indication of trends for the rest of 2012.
To continue reading, you need a subscription to Intelligent Insurer. Start a subscription today for £655.
In-house feature articles, the archive and expert comment require a paid subscription. Subscribe now.
Want to give it a try? We are offering a two week free trial to the Intelligent Insurer website – register and select “Two Week Free Trial” to begin access to the full Intelligent Insurer archive and read the latest news, features and expert comment. Begin your free trial here.
Is your 2 week free trial about to end? Upgrade to a 12 month subscription for £655 now.
If you have already subscribed please login.
If you have any technical issues please contact support.
aviation, Guy Carpenter