The AERONAUTICAL INSURER FOR MORE THAN 60 YEARS
Foreword from the Chairman
After a long decade of premium rate erosion, the aviation and space insurance markets are taking a decisive turn towards technical balance. In this new market environment REUNION AERIENNE & SPATIALE, in its (renewed) role as a major global market player and proud of its history of continuity and loyalty to its intermediaries and insureds, will continue its monoline business with commitment and professionalism. A balanced collaboration, which takes into account the interests of all stakeholders, can only be guaranteed if a sufficient margin level is maintained allowing the insurer to reimburse the claims produced by the insureds. This virtuous circle has gradually been broken due to an overcapacity of the insurance market as well as undisciplined underwriting and claims settlements. La Réunion Aérienne (LRA) and La Réunion Spatiale (LRS), which have been both present in the market for many years, suffered from this situation as a consequence of which our 2018 (aviation) results are negative. Therefore, the turn of the cycle is essential for our loyal and engaged insurance partners to maintain their ongoing trust in our company.
The aviation and space industries remain high-tech sectors at the edge of innovation with an outstanding global growth outlook. As such, being a specialised insurer, we view it as a major commercial opportunity to support this evolution and cover related risks. We are enduring and robust – but our profitability needs to be restored in the long run.
As we count on the turn of the cycle and the quality of our brands LRA and LRS, we are proud to announce the extension of our set up to a fifth partner, Helvetia Assurances SA, as from January 1st 2019. Along with our existing principals, Generali, MMA, SCOR and PICC Property & Casualty (joined January 1st 2018), our financially robust and geographically diversified capacities provide evidence of our enhanced footprint in the market as well as of our determination to pursue our development plans.
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 a strengthened legal entity framework as a result of the creation of the SAS REUNION AERIENNE & SPATIALE in 2016. We write, on behalf of our principals, who are also insurers in their own right, a complete range of aviation and space risks through our Paris and London underwriting platforms.
Generali, MMA (Covéa group) and SCOR are shareholders of the company REUNION AERIENNE & SPATIALE and members of the “economic interest grouping” La Réunion Aérienne and are long standing partners of ours. The capital structure of REUNION AERIENNE & SPATIALE is 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. 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.