Decline in the aviation insurance market in 2016

According to the latest report published by broker Jardine Lloyd Thompson (JLT), the global aviation market declined sharply in 2016. The hull and third party liability turnover decreased by 7%, totalling 1.2 billion USD and making the lowest figure since 1999.

This decline in the aviation market which has persisted for many years will in all likelihood continue in 2017. Insurers now want to minimize their exposure to risk and improve their profitability through more selective underwriting methods.

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