Russia/Ukraine conflict: towards an increase in aviation insurance rates

According to industry professionals, aviation insurance rates could be rising by 30 to 40% or possibly much more in the second half of 2022. The increase would be due to the Russian-Ukrainian conflict and its repercussions on this insurance class of business.

The confiscation and nationalization of 500 Western aircraft by Russia would cost 10 billion USD to international insurers and reinsurers. This situation would affect the pricing of insurance policies.

As a result of the war's fallout, Standard and Poor's (S&P) estimates losses between 16 and 35 billion USD for the whole specialty insurance market.