Insurers hit with High Court lawsuit in London

Eleven sued by aircraft leasing firm

Insurers hit with High Court lawsuit in London

Insurance News

By Terry Gangcuangco

Lloyd’s and 10 insurers have been taken to court in London by Dubai Aerospace Enterprise (DAE), according to Reuters.

It was reported that the aircraft leasing firm is suing Lloyd’s, Abu Dhabi National Insurance Company, AIG, AXIS Specialty Europe, Chubb, Fidelis Insurance Ireland, Global Aerospace Underwriting Managers, Great Lakes Insurance, HDI Global Specialty, Starr Europe Insurance, and Swiss Re.

The news agency noted that details of the High Court lawsuit are not publicly available at this point.

DAE, 19 jets of which are stuck in Russia, had written off US$576.5 million for the aircraft. Its claim follows that of fellow lessor AerCap, which is seeking US$3.5 billion for over 100 seized planes.      

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