May 18, 2023
Via: Insurance BusinessAn aircraft leasing company is pursuing an $80 million claim for commercial airplanes lost in Russia following the invasion of Ukraine, despite the claimant never having seen the relevant policy documents. Shearwater Aircraft Leasing made the claim, which relates to […]
Geo-Political, Risk Management
March 13, 2023
Via: Insurance JournalInsurers led by AIG are asking London’s High Court to merge various lawsuits brought by aircraft lessors against insurance companies refusing to pay out claims for jets effectively confiscated in Russia. AerCap Holdings NV, the world’s biggest jet lessor, is […]
November 29, 2022
Via: Insurance JournalSMBC Aviation Capital has joined most of the world’s largest aircraft lessors in pursuing insurance claims through the courts over jets it owns that are stuck in Russia, an Irish High Court filing showed. Irish-headquartered SMBC recorded an impairment of […]
Geo-Political, Risk Management
July 8, 2022
Via: Reinsurance NewsLeading aircraft leasing firm, SMBC Aviation Capital, has said it is “unlikely” that it will be able to recover 34 owned aircraft stranded in Russia following the country’s ongoing invasion of Ukraine and subsequent sanctions, leading the company to recognise […]
May 6, 2022
Via: Insurance JournalThe Middle East’s biggest plane-leasing firm wrote off half-a-billion dollars for aircraft stranded in Russia, after the Kremlin issued a law preventing foreign-owned jets from leaving the country without state permission. Dubai Aerospace Enterprise booked a $538 million write-off for […]
March 18, 2022
Via: Insurance JournalAircraft-leasing firms working to retrieve planes from Russia are set to collide with an aviation-insurance industry bracing for an unprecedented barrage of claims. Lessors of planes stuck in Russia since the onset of sanctions have warned insurers of possible claims […]