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Aerospace Practice Market Review

Q4 2021

Aerospace
N/A

November 19, 2021

We have seen a softening of the aerospace market over the past year in terms of premium, which arguably happened quicker than expected, however increases are still being applied across the board.

In 2020, and Q1 of 2021, we saw aggressive price increases following a few years of loss-making results, with aviation insurers under pressure from capital providers to return to profit. However, new market entrants, increased appetite from existing insurers and the downturn in exposures due to COVID-19 has made these price increases difficult to justify, and has increased competition for desirable business.

There have been fewer losses during reduced period of activity which has assisted with drive towards profitability, but upwards pressure on pricing remains, albeit at smaller levels. Furthermore some sectors within aviation, where there is a greater perceived exposure or claims activity, are still seeing higher increases.

Our market insight document explores quarterly comparisons of average premium change from 2020 to 2021 and anticipates the trends that could continue in 2022. To learn more, please complete the form to download our Aerospace Practice Market Review Q4 2021.

Contacts


Darren Porter
Managing Director, Aerospace

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