Insurers face ‘mega trial’ over planes stranded in Russia

Insurers are facing a “mega trial” in London’s High Court next year after they refused to pay billions of dollars of claims made by aircraft leasing companies with planes stranded in Russia by its invasion of Ukraine.

March 14, 2023 . 2:49 AM

1 min read

Insurers are facing a “mega trial” in London’s High Court next year after they refused to pay billions of dollars of claims made by aircraft leasing companies with planes stranded in Russia by its invasion of Ukraine.
AerCap, the world’s largest owner of commercial aircraft, is taking action against insurance groups AIG, Lloyd’s of London and Fidelis after its planes were stranded in the chaotic aftermath of the invasion.
AerCap is seeking up to $3.5bn in relation to 116 stranded aircraft and 23 engines.
Aviation is one of the biggest areas of expected insurance losses from the Ukraine war.
Lloyd’s of London has set aside £1.6bn because of the conflict.