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Insurers may get resolution over planes stuck in Russia: Lloyd's

Posted On: Apr. 27, 2023 9:49 AM CST


Bruce Carnegie-Brown, chairman at Lloyd's of London, said that aviation insurers are expected to eventually reach a settlement with aircraft lessors for claims made over the loss of more than 400 leased planes stuck in Russia amid Western sanctions, Reuters reported citing Irish Independent. Mr. Carnegie-Brown added that the policies Lloyd’s has with aircraft lessors pay out only when Russians do not pay their claims. Lloyd's of London is named in many of the cases filed by lessors against insurers, including those by AerCap Holdings N.V., and Avolon.