Aviation claims at lowest since 2004

Aerospace insurers saw 2011 claims falling to their lowest level for seven years and by $1bn from $2.2bn in 2010 to $1.2bn in 2011. It is expected that 2011 saw aerospace insurers collect $800m margin after claim payments. This news will most likely lead to further rate pressure over the next few months. Ironically though the last few years since the credit crunch still show aerospace insurance lines to be in the red to the tune of around $100m. That is more or less the same amount that the 2011 loss of an Asiana Airlines 747F cost insurers, which was