Overview

The Faraday Aviation Team writes a global book of business with a focus on both established and developing nations of the world.

We manage a balanced portfolio of risks in Europe, North America, Latin America, the Middle East/Africa and the Asia Pacific Rim. Worldwide, just over 60% of our business by premium volume is in respect of Airlines with the balance being distributed between Banks and Lessors, Airport and Associated Risks, Aerospace Products and General Aviation.

Our book extends from national flag carriers, through regional and smaller operations, to start-up companies, especially those operating in geographical areas with high potential for increased passenger volume. The aviation sector worldwide is constantly changing, for established airlines and markets as much as for dynamic young operations, so we offer flexible insurance policies to meet these challenges.

Underwriting strengths

Since the Aviation business line was established in 2000, we have built a team with extensive histories in the sector and a full cross-section of knowledge and skill sets. Our reputation for solid experience and longevity is matched by a receptive attitude to new developments.

A strong service ethic means that we are accessible and responsive. The business demands close relationships with our brokers and clients, strengthened through a comprehensive, targeted programme of visits.

Our underwriters are genuinely interested in worldwide aviation, keeping abreast of the sector to understand evolving risks and how they can be managed. Faraday Aviation has representation on both the Lloyd’s Market Association Aviation Committee and Aviation Claims Group. We make a point of attending annual major international conferences including: -

 

  • • Aircraft Builders Council (ABC)
  • • International Union of Aviation Insurer’s (IUAI)
  • • Aviation Insurance Association (AIA)
  • • IATA Risk and Insurance Management Working Group (RIMS)

 

The team benefits from strong claims, wordings, loss modelling and actuarial support.

Geographical and Market Split

  • Europe 30%
  • Asia Pacific 23%
  • US 15%
  • Latin America 14%
  • Canada 8%
  • UK 3%
  • Middle East / Africa 2%
  • Other 5%
  • Airline 63%
  • Contingent/Leasing 7%
  • Products 17%
  • Airport 9%
  • General Aviation 4%