1、A business of Marsh McLennanGeneral insurance market benchmarking:Aviation insurance market overviewQ4 2023February 20241.Executive summary 2.Airline insurance London market overview-Q4 airline premium development-Airline market capacity-Airline losses3.Aerospace insurance London market overview-Q4

2、aerospace premium development-Aerospace market capacity4.General aviation insurance London market overview-Q4 general aviation premium development-General aviation market capacity5.Hull War and AVN52 commentary6.ReinsuranceAppendix -Market trend analysis-Nuclear reinstatement language-Auto terminati

3、on clauseContentsExecutive summaryThroughout 2023,overall loss levels in the aviation sector remained on a downward trajectory compared to previous years.With many organizations in the industry now back to operating at,or above,pre-pandemic levels,we will continue to monitor loss activity closely.Fo

4、llowing 2023s hardening reinsurance market,many direct aviation insurers sought to maintain and grow their market share in the fourth quarter.For risks with clean loss records,some insurers appear prepared to absorb exposure increases,focusing on mitigating against premium losses rather than adherin

5、g to technical rating models.Geopolitical volatility is a concern for many war risk insurers.Nevertheless,following a protracted period of premium increases,many are hopeful that Hull War and Excess War Liability placements could move towards stabilization in 2024.The exact quantum of losses from th

6、e Russia-Ukraine war is still to be determined,with future agreements and/or settlements expected in 2024.The aviation insurance community will continue to pay close attention to any developments.Ongoing supply chain and talent shortage challenges continue to increase pressure across the industry,re