Worldwide Underwriting

Underwriting your risks

Underwriting in line with
the turn of the cycle

In 2018, the total of major partial losses (between USD 10 M and USD 50 M at 100%) in our Airlines portfolio was around +35% above the 5-year average, which entailed a negative result despite the small amount of major losses (more than USD 50 M at 100%) and reduced the annual premium to a level that proves insufficient to cover attritional (less than or equal to USD 10 M) and major partial losses going forward. As a leading insurer of the world airline fleets, it was logical for us to react and to apply rate increases, averaging approximately 8 % in 2018, and beyond for the accounts that suffered large losses or had a high attritional claims experience. We believe that the airline market will only recover the financial balance needed to protect the insureds in a sustainable manner if the rates increase significantly compared to current levels. Which means that we will continue to increase rates in 2019, in a controlled way, while differentiating quotes and participations according to the individual merits of the insureds. Moreover, in order to help our underwriters in this respect, we strengthen our “business intelligence” through the development of an enlarged database analysing data from internal and external sources.

Worsening results in the aerospace, general aviation and space segments, due especially to large hull manufacturer, helicopter and launch claims, do not allow us to offset the results of the airlines segment. However, following a +35% premium growth in 2018, our Aerospace underwriting team will continue developing the portfolio, mainly for medium and small accounts, and may consider rate increases for large accounts where ratings for wider coverage are not appropriate. The General aviation underwriting team, while pursuing rate corrections for certain activities, will focus its development on profitable segments in adapting its products offer as well as leveraging and enhancing its regional partnerships. The Space underwriting team will maintain the adaptation of its portfolio to the industry “ecosystem” change, thanks to its broad expertise and an optimised usage of our capacity.

Finally, we will continue to increase our global footprint through both our brands, LRA and LRS, with the help of our robust co-insurers and reinsurers, acquiring a growing international dimension. We would like to thank you for your ongoing trust, as reflected in the positive results of our recent satisfaction survey. Our aim remains to support you in the long run and offer you high quality service to allow you to develop your business in a challenging industry environment.

Jean-Claude GÈZE
Chief Underwriting Officer

Our Capacity

Our Shares


$300 M USD

Major Risks

Up to 13%

Major Airlines

$250 M USD

mid-size Risks

Up to 20%

MId-Size Airlines

$250 M USD


Up to 10%


Up to 100%

Suppliers And

Up to 30%

Mid-size Manufacturers
and airports
General Aviation

$150 M USD

Up to 100%

Our Capacity

$30 M USD

Per Launch / satellite

$10 M USD

Orbit Life

REUNION AERIENNE & SPATIALE writes business on behalf of its principals in most countries and territories subject to local laws and regulations, in accordance with country specific sanctions.



Further reinforced by the entrance of a fifth principal, our unique capital structure represents more than ever a decisive competitive advantage, especially when operating in an international setting.

Indeed, the establishment of privileged relationships with the local branches of our principals and major independent local players, underpinned by the networks of our broker partners, allows us to support the growth of these increasingly independent markets, mainly for midsize risks and in the general aviation sector. It also allows us to offer continuity of service and international solutions to our large European customers, like the leading global insurance brands and their integrated network, while maximizing the quality and the relevance of the services offered, intrinsic to the agile and efficient structures of our size.

The expected hardening cycle of the global aviation insurance market will also undoubtedly have an impact on local reinsurers and insurers in 2019, and foster, for the benefit of La Reunion Aérienne, further opportunities for differentiation and growth in the region, through partnerships similar to those set up recently in Latin America and in China.

Ludovic Berlioux
Sales & Partnerships Manager