Aviation market sees most challenging reinsurance renewals: Aon
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Analysts at U.K.-based Aon PLC said that the aviation market witnessed the most challenging renewal in more than 20 years during the Jan. 1 season, with coverage restrictions and significant rate increases, Reinsurance News reported. Reinsurers moved to limited aviation grounding coverage and third-party war coverage in all-risk coverages. Although capacity mostly remained adequate, aviation reinsurers reduced their line sizes, in part due to limited availability of retro cover.
