Aviation insurance and reinsurance: Key market players

Aviation insurance

Lloyd’s

Lloyd’s of London plays a significant role in the aviation market. Configured as a specialized market comprising numerous underwriting syndicates, Lloyd's operates in more than 200 countries and territories.

Its syndicates cover the main risks in the aviation sector, including aircraft, airline liability, aerospace activities, airport infrastructure and war risks.

According to Lloyd's 2025 annual report, aviation insurance remains a strategic market segment. Despite a challenging environment marked by persistent conflict-related losses and intense competition, the market continues to benefit from significant underwriting capacity and optimized risk distribution.

Allianz Commercial

Allianz Commercial is a division of the Allianz Group, specialized in insurance for large companies and industrial risks. This unit is also one of the leading providers of aviation insurance.

Operating in 22 countries, Allianz Commercial offers coverage for airlines, airports, aircraft manufacturers, ground handling operators, and the aerospace sector. Its offerings particularly include aircraft insurance, aviation liability, and risks pertaining to aerospace activities.

It is worth noting that Allianz Commercial periodically publishes studies on the aviation market. According to its analysis of more than 32 000 aviation claims occurring between 2019 and 2024 ⁽¹⁾, an increase in claims costs has been noted globally, driven by rising aircraft repair costs, increased spare parts prices, and supply chain disruptions. Allianz Commercial also highlights the growing impact of ground incidents and the shortage of qualified personnel in the aviation sector.

⁽¹⁾ Source : Aviation Outlook 2024, Allianz Commercial

Aviation reinsurance

Reinsurers work alongside aviation insurers, accepting and transferring a portion of the direct market risks to distribute potential losses globally.

This risk-pooling mechanism strengthens the resilience of the aviation market and maintains its capacity to absorb major claims. It also allows the market to address constantly evolving risks, the nature and intensity of which vary according to technological progress, geopolitical contexts, and regional specificities.

Swiss Re

With over a century of experience in aviation reinsurance, Swiss Re ranks among the world's leading companies in the sector.

The Swiss group provides coverage to insurers worldwide while operating in specialized segments such as war risk reinsurance and space reinsurance.

According to Swiss Re, aviation business accounts for approximately 2% of the revenues of the Property & Casualty Reinsurance segment in 2025.

Munich Re

Active across all aviation lines of business, Munich Re offers solutions covering, in particular, aircraft hulls, cargo transport, and liability.

The German reinsurer provides the direct market with significant financial capacity and customized risk management solutions, enabling insurers to remain resilient in the face of exceptional events.