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International

Global insurance industry set for $600 million hit from aviation losses in 2014: Lloyd's

September 30, 2014 Reprints

Inga Beale, CEO of Lloyd's of London, said that the unusually high incidence of aviation mishaps in 2014 have hit the global insurance industry considerably, with claims set to exceed $600 million, reports International Business Times citing The Independent.

The two Malaysia Airlines tragedies and the Tripoli airport seizure in Libya have added to the claims.

Although premiums from the global aviation hull war market stand at around $65 million, claims are already likely to cross the $600 million mark in 2014, Ms. Beale said.

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Global insurance industry set for $600 million hit from aviation losses in 2014: Lloyd's

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