Dubai Aerospace Enterprise claims 875 million USD from its insurers for its aircraft stranded in Russia

Dubai Aerospace Enterprise (DAE)In October 2022, Dubai Aerospace Enterprise (DAE), an aircraft leasing company, has filed a complaint with the High Court of Justice in London against Lloyd's of London, Abu Dhabi National Insurance Company, AIG, AXIS Specialty Europe, Chubb, Fidelis Insurance Ireland, Global Aerospace Underwriting Managers, Great Lakes Insurance, HDI Global Specialty, Starr Europe Insurance and Swiss Re.

The plaintiff is claiming 875 million USD in compensation from its insurers for its planes confiscated by Russia. However, the eleven insurers insist that the company is not eligible for compensation. According to the insurance companies, the sanctions against Russia do not concern DAE's insurance policies.

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