in 2019 we anticipated a return of the cycle. This has come true today. For various reasons, our four lines of business experienced a series of major structural changes over the last few months.
Foreword from the Chairman
In 2019, more specifically in the last quarter, the anticipated turn of the cycle had its effects.
Indeed, each of our four business segments (Airlines – Manufactures – General Aviation – Space) experienced pricing adjustments and changes in terms and conditions, which were both necessary and essential to restore the underwriting balance and profitability for our insurers and reinsurers.
In this context our round table of insurer members changed on January 1st: withdrawal of SCOR (which again becomes a reinsurer member); entry of the SMA group (10%); increase of HELVETIA (20%) with GENERALI (30%) and MMA (30%); PICC (10%) remaining as 2019.
On track and benefiting from a business dynamic driven by a rising market, 2020 will however bring us new challenges, in particular the strong impact of Covid-19 on the activity of our clients in the aviation sector worldwide.
As aviation insurance professionals for over 60 years, our underwriting, claims and back office teams are fully dedicated to aviation and space insurance business and constantly listening to our insurance intermediary partners (agents and brokers) to try to manage as well as possible this crisis, for the benefit of our insured.
Finally, how can we not talk about sustainable development? We will engage in an eco-responsible approach and thereby participate in the carbon neutrality objectives necessary for the balance of the planet.
May I invite you also, to discover on our website, our updated key figures and information as well as interviews of several of my colleagues relating to these different themes.
Wishing you safe journeys and we are certainly by your side.
Christophe Graber
CEO
About Us
WHO WE ARE
A PURE SPECIALIST & KEY GLOBAL PLAYER
For more than 65 years, we have been providing insurance and reinsurance solutions geared to the highest requirements of aeronautical risks and tailored to each of our clients’ specific needs. Being a historically French company founded in 1953, we operate worldwide. We have become one of the world’s top aviation and space insurance companies and, as a leading global player, we represent today a significant share in the overall market. Our headquarters are located in Paris, and we also maintain an office in the City of London.
We act as a pure specialist operating solely in the aviation and space insurance markets. As such, we serve a wide-ranging client base of airlines, aircraft, engine and satellite manufacturers, airports, satellite and launcher operators as well as the entire spectrum of general aviation participants. We bring our exclusive expertise in the fields of aviation and space insurance to our clients under two recognized and much appreciated brands, LRA and LRS.
Supported by high quality partners
We develop our business with the support of major insurance groups within strengthened legal entity framework as a result of the creation of the SAS REUNION AERIENNE & SPATIALE in 2016.
SAS REUNION AERIENNE & SPATIALE write, on the behalf of our principals, who are also insurers in their own right, a complete range of aviation and space risks through Paris and London underwriting platforms.
Generali and MMA (Covéa group), long standing partners, are shareholders of the company SAS REUNION AERIENNE & SPATIALE and members of the Economic Interest Grouping (EIG) La Réunion Aérienne.
SAS REUNION AERIENNE & SPATIALE was reinforced in 2018 with the entrance of PICC Property & Casualty, China’s major insurance company, and again in 2019 with the arrival of Helvetia Assurances SA, leading insurer in the Swiss market.
In 2020, we welcomed SMA Group, a well-known and 1st ranked insurer in the construction industry, historical player on the French market, as a fifth member.
Most importantly, our now five principals allow us to provide our intermediaries (agents and brokers) as well as our clients with a high level of financial security.
