London market carrier Brit has ceased writing aviation business.
As a reflection of the ongoing challenges seen in the global aviation insurance marketplace, Brit have announced that they have stopped accepting all aviation risks with immediate effect but will continue to underwrite space risks.
We understand that Brit’s decision to exit the class of business is in response to its Lloyd’s syndicate business forecast planning process. The aviation retreat is thought to be the only significant change within Brit’s 2019 business plan.
Brit’s move follows a decision in May to close its general aviation (GA) book of business.
As with prior announcements, we will keep you updated of any further market developments, however, if there is any impact on your policies, we will be in contact with you directly to discuss in further detail.