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RUSSIAN AVIATION INSURANCE CONFERENCE

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Title: Willis PowerPoint Screen Template v.1 Author: Kathy_at_CreativeTemplateSolutions.com Last modified by: westt Created Date: 1/25/2008 3:49:28 PM – PowerPoint PPT presentation

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Title: RUSSIAN AVIATION INSURANCE CONFERENCE


1
AIRLINE RATE DYNAMICS IN THE INTERNATIONAL
MARKET 2002 2009
  • RUSSIAN AVIATION INSURANCE CONFERENCE
  • 9 December 2009

2
2009 TO DATE
3
Hull Liability General Trends 2009 Market
  • Losses currently totals US2,240m the highest
    on record
  • Premium currently totals US1,165m with large
    volume of premium still to renew
  • This will result in insurers making a loss in
    2009.
  • Insurers expenses estimated to be in the region
    of US300m Includes reinsurance and other
    operating expenses
  • Third straight loss making year
  • Insurers committed to continue increasing premium
    levels in 2009 and 2010
  • Excluding September 11th, 2001 losses.

4
Hull Liability 2009 Net Premium Movements
17
Airline Insurance Market Review Private and
Confidential
December 2009
5
Hull Liability 2009 Hull Rate Movements
15
Airline Insurance Market Review Private and
Confidential
December 2009
6
Hull Liability 2009 Net Liability Rate per
Passenger Movements
18
Airline Insurance Market Review Private and
Confidential
December 2009
7
World Wide Airline Hull Liability Premium and
Claims on a Calendar Year Basis 2002 2009 (Net
Leaders Terms USM)
7 Year Totals (2002-2008) Premium
US17,120m Claims (inc attritional)
US9,096m Profit to the market US8,024m Loss
Ratio 53
Premium includes all known airlines and an
estimate for untracked airlines, and is based on
Net London Lead Terms it is subject to change
as more information becomes available Claims
include the estimated figure for attritional
losses
Airline Insurance Market Review Private and
Confidential
December 2009
8
2002 2009 Airline Hull Losses - In Excess Of
US10m (Excluding Hull War)
Hull Reserves US
No of Losses
Airline Insurance Market Review Private and
Confidential
Page 7
December 2009
9
2002 2009 Airline Losses with more than 50
Fatalities (Excluding War Losses)
No of Losses
Liability Reserves US
Airline Insurance Market Review Private and
Confidential
Page 8
December 2009
10
Hull Liability 2002 - 2009 Net Premium
Movements
Airline Insurance Market Review Private and
Confidential
December 2009
11
Hull Liability 2002 - 2008 AFV
Airline Insurance Market Review Private and
Confidential
December 2009
12
Hull Liability 2002 - 2008 Passenger Numbers
Passengers
Airline Insurance Market Review Private and
Confidential
December 2009
13
CONCLUSION
  • Since 2002
  • Fleet Values up 27.75
  • Passenger numbers up 45.6
  • Hull losses stable
  • LiabiIity awards erratic, dependant upon
    Nationalities involved, where cases brought
  • 2008 Premium only 52 of 2002 level
  • Average yearly loss since 2002 USD 1.4B plus
    attritionals of USD450M ? Plus R/I costs USD300M
    ?
  • What level of premium do the market need to be
    reasonably profitable ?

14
  • Selection Criteria used
  • Premium/Index percentage change derived from
    Airlines renewing with Average Fleet Values of
    US100 million and greater.
  • Comparisons made from annual renewal figures
    year-on-year.
  • Liability rate is calculated as premium per
    passenger carried. However the basis of liability
    rating for Airlines varies and can be based
    solely or on a combination of passengers carried,
    departures, RPKs, passenger seats or per
    aircraft.
  • It should be noted that due to the relatively
    small sample of renewals in some months, that the
    comparisons with previous years can be distorted
    by the renewal of a small number of major risks
    and should be treated with caution.
  • Willis Limited
  • Willis Limited, Registered number 181116 England
    and Wales
  • Registered address 51 Lime Street, London, EC3M
    7DQ
  • Lloyd's broker authorised and regulated by the
    Financial Services Authority.
  • This review is intended to inform our clients and
    others of issues and developments within the
    aviation insurance markets. Whilst every effort
    is made to ensure the accuracy of the information
    contained herein, Willis Limited accept no
    responsibility for any errors or omissions in the
    information or its consequences.
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