The Aon Airline Insurance Market Indicators 2010/11
The growing levels of exposure suggest that confidence is beginning to return to the airline industry
Confidence is returning to the airline industry, with airlines predicting a 13% increase in passenger numbers in 2011, according to the Aon Airline Insurance Market Indicators, 2010/11 report. This compares to a 9% decrease predicted at the same time last year. Similarly, airlines in every geographic region across the globe are investing in their fleet, with average fleet values (AFV) forecast to rise by 9%, compared to only 1% last year.
On average, airlines that have renewed their lead hull and liability insurance programmes between January and July 2010 have seen a 7% increase in the cost of the insurance premium they paid compared to last year. More than 60% of those that have renewed so far have paid an increase in premium, fewer than the 80% witnessed in 2009, suggesting the cost of insurance for airlines is stabilising after 11 straight quarters of increases.
These are the key findings of Aon’s Airline Insurance Market Indicators 2010/11 report, which brings together the analysis that we have made so far in 2010 and extrapolates how it could impact market direction during the very active final months of the year.
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