Insurers must provide documents to lessors suing over cover for planes held in Russia, court rules

The Court of Appeal has upheld a finding that several Dublin-registered international aircraft lessors are entitled to certain documentation from insurers who have allegedly refused to provide indemnity for the loss of planes detained in Russia. The aircraft in question, valued at more than a billion euro, were not returned when the companies sought their returns following Russia’s invasion of Ukraine in early 2022. The actions have been brought in six sets of proceedings by groups of companies, including SMBC Aviation Capital Ltd, Global Aviation Ltd and Wilmington Trust SP Services (Dublin) Ltd, BOC Aviation Ltd, Silver Aviation Ltd, CDB Lease Finance DAC and GY Aviation. Their actions are against several international insurers who declined to cover losses under either “all risks” or “war risks” policies. The insurers include Lloyds, Swiss Re International, Chubb European Group, Global Aerospace Underwriting Managers (Europe) SAS and AIG Europe, Tokio Marine Europe, Taiping General Insurance Zhejiang Branch Co Ltd. The insurers deny the war risk cover was engaged following the invasion.<br/>