Lloyd's of London sees major claims from Ukraine war
Lloyd’s of London faces major claims this year related to Russia’s invasion of Ukraine, but this will not lead to solvency issues, the commercial insurance market said on Thursday. Lloyd’s is asking its member syndicates to give details of their exposure to the conflict, Chairman Bruce Carnegie-Brown said, adding it was too soon to estimate the size of the loss. Lloyd’s has around 100 members that underwrite complex risks such as planes, ships and oil rigs. The aviation insurance market is seen as particularly exposed to the impact of what Russia has described as a “special military operation” and of the West’s subsequent sanctions. Global leasing companies face an imminent sanctions deadline for the repossession of more than 400 jets worth almost $10b from Russian airlines. Analysts say legal wrangling between airlines, lessors and insurers could last a decade.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2022-03-25/general/lloyds-of-london-sees-major-claims-from-ukraine-war
https://portal.staralliance.com/cms/logo.png
Lloyd's of London sees major claims from Ukraine war
Lloyd’s of London faces major claims this year related to Russia’s invasion of Ukraine, but this will not lead to solvency issues, the commercial insurance market said on Thursday. Lloyd’s is asking its member syndicates to give details of their exposure to the conflict, Chairman Bruce Carnegie-Brown said, adding it was too soon to estimate the size of the loss. Lloyd’s has around 100 members that underwrite complex risks such as planes, ships and oil rigs. The aviation insurance market is seen as particularly exposed to the impact of what Russia has described as a “special military operation” and of the West’s subsequent sanctions. Global leasing companies face an imminent sanctions deadline for the repossession of more than 400 jets worth almost $10b from Russian airlines. Analysts say legal wrangling between airlines, lessors and insurers could last a decade.<br/>
