1、A business of Marsh McLennanJuly 2024General insurance market benchmarking:Aviation insurance market overviewH1 2024ContentsIndustry and market factorsReinsuranceRecent major airline lossesHull War and AVN52Market capacityPremium change analysisAppendixExecutive summaryAs we enter the second half of

2、 2024,the aviation industry generally remains buoyant across all sectors.The rise in airline passenger numbers translates to demand for new aerospace equipment and increased orders for aftermarket products.The general aviation sector is experiencing similar growth.Ongoing challenges arising from tal

3、ent and supply chain shortages continue to present a headwind to the industry.However,a strategic shift in the aerospace sector towards using artificial intelligence tools could help enhance supply chain optimization.We have observed some softening in the reinsurance market,combined with stable capa

4、city available from direct airline,aerospace,and general aviation insurers.This has resulted in somewhat of a downward trend in terms of rates,as insurers compete for income and market share,notwithstanding some significant hull losses in the first half of the year.Geopolitical volatility remains a

5、concern for some war risk insurers.However,we are generally seeing a return to stabilization in relation to Hull War and Excess War Liability placements that we anticipated at the start of the year.We have seen several aircraft turbulence incidents in recent months,possibly linked to climate change.

6、In some cases,the incidents have led to significant passenger injuries.Our team of Marsh specialists are available to support clients in successfully navigating industry challenges of this nature.Garrett HanrahanGlobal Head,Aviation&SpaceExecutive summaryLondon insurance market overviewFactors impac