Swiss Re Corporate Solutions exits general aviation and space markets

Although Swiss Re has just posted its half-year results for 2019, reporting strong overall growth across the group, Swiss Re Corporate Solutions reported a net loss of USD403 million and a combined ratio of 132.8% in the first six months of 2019 as a result of decisive management actions to reposition the business together with losses stemming from natural catastrophes and man-made losses including those seen in the aviation and space sectors.

In news released overnight, The Insurance Insider has learned Swiss Re Corporate Solutions is withdrawing from the general aviation and space markets globally. Swiss Re have subsequently confirmed this to be the case and as a consequence they will be closing the local arm of their Aviation business here in Australia.

As always Aerosure will continue to keep our clients fully informed of further updates and solutions already being developed where required, however should you have any immediate queries please do not hesitate to contact us.