THE GREEN LIGHT IS ON
Foreword from the Chairman
The transformation we have been engaging in for several years has allowed us to restore sound fundamentals and definitely opens a phase of positive dynamics for our company. In both our business areas, aviation and space insurance, we achieved once again positive income in 2017, in a market which started showing signs of levelling off, but which remains volatile in essence.
A point that needs to be highlighted in this respect is that so far, very much like the Cat business, aviation insurance did not reach an appropriate pricing level allowing the sector to absorb major future events in a more comfortable position.
That being said, the outlook of the aviation market as such is quite promising. Global air traffic has been expanding relentlessly for many years now, especially in Asia, and the aerospace industry has unprecedented orders for new more fuel efficient aircraft. The space industry market, however, has entered into a more moderate phase of its business cycle, with some structural developments to come and LRS being committed to offering our clients continued support.
To reflect this appealing industry environment, La Réunion Aérienne (LRA) and La Réunion Spatiale (LRS) continue to enhance our footprint in the market, through diversification of our portfolio in the aerospace segment and continued substantial participations in the large accounts, while embracing a disciplined approach to underwriting. We also believe that our focus on local partnerships will be instrumental to the further development of our international General Aviation book.
And we continue to live up to our motto “Looking towards the future”, in extending our set up to a fourth high quality Principal, The People’s Insurance Company of China. PICC Property & Casualty is the leading insurance company in China, a country bound to become a top player in the aviation sector in the medium term.
Today, the green light is on for us to fully realise our ambitions and our long-term commitment to our clients, our brokers and our intermediaries: To make you choose a market leader for your changing aviation and space insurance needs.
Christophe Graber
Chairman
About Us
WHO WE ARE
A PURE SPECIALIST & KEY GLOBAL PLAYER
For 65 years now, 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, both shareholders of the company REUNION AERIENNE & SPATIALE and members of the two “economic interest groupings” La Réunion Aérienne and La Réunion Spatiale, are historical partners to us. In 2017, the capital structure of REUNION AERIENNE & SPATIALE is reinforced with the entrance of PICC Property & Casualty, China’s major insurance company, offering an additional capacity in aviation insurance to our clients. Most importantly, our now four principals allow us to provide our intermediaries (agents and brokers) as well as our clients with a high level of financial security.
A (A.M. BEST)
Generali
Premium Income: €68.5 bn
Equity Capital: €25.0 bn
AA- (S&P)
Scor
Premium Income: €14.7 bn
Equity Capital: €6.2 bn
A+ (S&P)
MMA
Premium Income: €16.3 bn
Equity Capital: €13.5 bn
A1 (Moody's)
PICC
Premium Income: RMB 349.2 bn
Equity Capital: RMB 119.3 bn
