Despite a spate of aviation losses totaling in the region of US$250 million at the end of July/early August, the airline industry had a relatively turbulent free start to the third quarter, with losses hitting a five-year low of US$794 million.
This is one of the main findings of our latest Willis Airline Insurance Insight report that I discussed with John Weber on BestDay TV recently.
In our research, we found that the insurance market has remained remarkably stable at the end of the first half of the year with no major shifts in capacity and claims, continuing the 2010 trend. The lack of passenger fatalities in the crashes that did occur reflects the excellent safety performance of the airline industry.
In our report we provide a full loss overview, commentary on the July, August and September renewals and the latest market news.