Aircraft leasing agency Dubai Aerospace Enterprise (DAE) has filed a London lawsuit towards 11 insurers, together with Lloyd’s of London, AIG, Chubb and Swiss Re, two months after it wrote off nearly $600 million for 19 plane caught in Russia.
The High Court declare additionally names Fidelis Insurance Ireland, HDI Global Speciality, Abu Dhabi National Insurance Co., Great Lakes Insurance, Global Aerospace Underwriting Managers, Starr Europe Insurance and AXIS Speciality Europe.
A spokesperson for Lloyd’s mentioned the insurer was “not at liberty to share information on any specific claim, policy or policyholder.” Munich Re, Great Lakes’ father or mother, AIG and Swiss Re declined to remark.
(*11*)Aircraft Lessors Begin ‘Vigorous’ Pursuit of Insurance Claims for Seized Jets in Russia
The different insurers and DAE didn’t instantly reply to requests for remark.
But lessors have vowed to pursue insurers since shedding management of greater than 400 leased planes value nearly $10 billion after Western international locations sanctioned Russia over the warfare in Ukraine and Moscow blocked the jets from leaving.
The declare has been lodged in London 4 months after Dublin-based AerCap, the world’s greatest plane lessor, filed a $3.5 billion insurance lawsuit over greater than 100 of its jets seized in Russia.
DAE, which mentioned in August it had written off $576.5 million for its planes, famous in its half-year outcomes assertion in August that it had “no way to determine whether these aircraft will be returned at any point in the future.”
“The group has insurance in respect of the aircraft in question under a number of insurance policies and the group has filed insurance claims to recover amounts due under the policies,” it added.
Details of the declare, which was filed final week, are usually not but publicly accessible.
(Reporting by Kirstin Ridley and Carolyn Cohn in London; extra reporting by Noor Zainab Hussain in Bengaluru; modifying by Matthew Lewis)
Photograph: Sheremetyevo International Airport in Moscow; picture credit score: Bigstock
Related:
Topics
Lawsuits
Carriers
Russia
Excess Surplus
Lloyd’s
Chubb
Aerospace
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