14-Sep-2011 9:09 AM

Willis: Airline industry losses hit 5-year low for year to Jul-2011

Willis Group Holdings reports (13-Sep-2011) airline industry insurance losses achieved a five-year low of USD794 million for the year to Jul-2011. The company reports the airline insurance market has "remained remarkably stable, with no change from the drivers of capacity and claims". Jul-2011 was one of the busiest periods of the year in the airline insurance market, according to Willis. Renewals again witnessed the trend for low single-digit premium increases against higher levels of exposure sectors. [more - original PR]