It’s not the flashiest line of business, but aircraft insurance is one of the most technically demanding. It’s also closely watched by brokers who know how quickly costs can climb when something goes wrong in the air. With high-value assets, complex risks, and strict regulatory standards, aviation insurance requires serious underwriting power.
The coverage may be niche, but the financial footprint is significant. How big is the aviation insurance market? $1.87 billion written in 2024, with nearly all of it earned. Losses and operating expenses reached over $1.18 billion, showing just how tight the margins can be.
What follows are the top aircraft insurance companies in the US, based on market share data taken from our IB Data Hub platform. You can see this data for yourself, and much more, in this data resource with options to filter by state, year, and other lines of business.
Market share: 20 percent
Direct premiums written: $380 million
Founded in 1919 as American Asiatic Underwriters in Shanghai, AIG has grown into a global powerhouse in property-casualty insurance, operating in around 190 countries with over $26.7 billion in annual premium volume.
AIG’s global 24/7 claims hotline ensures fast, expert intervention on losses, reinforcing broker credibility when clients need it most.
Aircraft insurance offerings:
Global hull & liability: Comprehensive programs for airlines, general aviation (GA), freighters, FBOs; limits up to $2.5 billion
UAS/drone coverage: Payload insurance, cyber liability, electronic interruption, and malfunction protection
War-risk and sabotage insurance: Full-spectrum protections with immediate claim-step support
Multinational program solutions: Captive fronting, locally compliant master programs, and one-platform management via myAIG
In a 2024 news report, AIG was named lead insurer for the Japan Airlines jet involved in the Haneda airport collision.
Market share: 12 percent Z
Direct premiums written: $224 million
With origins as the Chubb Corp. in 1882 and strengthened with the ACE acquisition in 2016, Chubb is now a global leader in P&C lines. It’s revered for strong financial ratings and a powerful Lloyd’s presence.
Aircraft insurance offerings:
Airline, GA & OEM programs: Broad hull and operational coverage, tailored product liability, and hangar exposure
Specialist coverage: War-risk endorsements, coverage for point-to-point exotic aircraft, turbine/glider programs via MGAs like Catalyst
In-house aviation claims: Technical expertise with seasoned adjusters, feeling the difference in corporate and fleet-level incidents
Broker portal: Streamlined quoting, submissions, and documentation with minimal friction
Chubb’s dedicated aviation underwriters simplify placement with customized program structuring, while in-house adjusters provide technical claim support.
Market share: 11 percent
Direct premiums written: $211 million
A top-tier Japanese insurer with global reach, Sompo operates international aviation underwriting out of its Sompo International and W. Brown & Associates units. By combining Japanese discipline with North American flexibility, Sompo brings a blend of underwriting precision and responsiveness that appeals to brokers managing cross-border exposures.
Aircraft insurance offerings:
Hull and liability: Covering airlines, GA, OEMs, and MROs with regional best practices and global coordination
Product liability: Designed for aerospace manufacturers and parts suppliers
Facultative/reinsurance programs: Support for risk layering and reinsurance-backed solutions
Specialty modules: Space liability, drone/UAV parametrics, and environmental exposures
Market share: 11 percent
Direct premiums written: $208 million
With aviation underwriting roots spanning over 30 years, Old Republic Aerospace (ORAE) emphasizes decentralized, underwriter-led service. With its Fortune 500 backing, ORAE is ideal for GA brokers and those needing fast, flexible responses tailored to U.S. operations.
Aircraft insurance offerings:
GA hull and liability: For private flights, training schools, aerial application, and charters
Ground and workers’ comp: Complementary coverage for hangars and personnel
Custom program design: Strong broker partnerships, responsive local underwriting authority.
Competitive commission models: Including experience-based dividends and standard 12.5 percent brokerage commissions
Market share: 10 percent
Direct premiums written: 194 million
Founded in 1880, Munich Re is the world's largest reinsurer, with a dedicated aviation division born in the 2000s. Celebrated for its analytical rigor and capacity for layered risk, Munich Re stands out in treaty and facultative business.
Aircraft insurance offerings:
Layered treaty and facultative reinsurance: Enables scaling capacity for carriers and brokers
Parametric products: Trigger-based coverage for drones and other non-physical loss events
Structured risk solutions: Perfect for fleets, lessors, and MRO portfolios seeking data-backed placements
Munich Re’s modern portfolio includes parametric solutions for UAS exposures and war, political violence, and catastrophe risk.
Market share: 8 percent
Direct premiums written: $156 million
Through General Re and USAU, Berkshire Hathaway offers both reinsurance and primary aviation solutions, all supported by Buffett’s financial continuity. Brokers often count on Berkshire for reliable capacity, especially when markets tighten due to major claims or geopolitical events.
Aircraft insurance offerings:
Primary and excess hull/liability: For everything from commercial airlines to niche GA risk
Reinsurance support: Program stability that lets brokers present consistent, layered packages
Risk appetite for complex accounts: Big fleet operators, taxi planes, UAV programs—Berkshire accommodates when others pull boundaries
Berkshire Hathaway is part of another top 10 list. It ranks #2 among the biggest P&C insurers in the US in the commercial and personal lines segment.
Market share: 7 percent
Direct premiums written: $134 million
As Japan’s leading commercial P&C insurer, Tokio Marine expanded into aviation through acquisitions such as HCC in 2015. The move brought in-depth aviation capabilities and Lloyd's syndicate access to multiple units: Avemco (direct-to-consumer GA), USSIC (airport and rotor/fixed wing liability), HC Aviation (commercial and specialty aviation).
Aircraft insurance offerings:
Tokio Marine HCC: Full suite including turbine GA, cargo, and war-risk cover
Avemco: Direct underwriting of piston-engine GA hull and liability
USSIC & HC aviation: Liability for rotor/fixed-wing, hangars, and commercial operations
Cargo and sabotage covers: Accessed via highly rated Lloyd’s syndicates
With a strong global footprint, Tokio Marine HCC has become a go-to for brokers needing both scale and specialization.
Market share: 5 percent
Direct premiums written: $98 million
American Financial Group, under its Great American Insurance brand, has carved out a niche in US aviation through AeroProtect. It’s an aviation-specific product suite tailored for GA, charter, and small commercial operators.
With over a century in the insurance business, AFG appeals to brokers who value long-term consistency and specialty market focus. Its aviation programs are particularly strong in bundling liability, environmental risk, and ground coverage.
Aircraft insurance offerings:
GA and charter liability: Primary US focus for smaller-based operations
Premises and comp add-ons: Bundling hangar liability and workers' comp for time-savers
Concierge underwriting: Specialized guidance with craft-oriented policy terms
Did you know? Great American Financial was the insurer for the Tom Cruise movie, American Made. Multiple lawsuits, including from Great American, were filed following a plane crash used in production.
Market share: 3 percent
Direct premiums written: 61 million
AU Group is a family-owned, independent underwriting firm with global reach across 50 countries and a team of 310 aviation experts. It specializes in customized solutions for non-standard risks and high-touch service, often turning around quotes faster than traditional carriers.
Aircraft insurance offerings:
Tailored hull and liability: Designed for custom or high-exposure accounts
Emerging risk modules: Includes war, sabotage, drone cyber, and event-driven endorsements
Fast response structures: Ideal for broker-critical placement timelines
AU Group supports complex aviation portfolios and emerging risk areas like UAVs, cyber threats, and vintage or experimental aircraft—making it a preferred partner for brokers navigating gray areas.
Market share: 3 percent
Direct premiums written: $58 million
IAT Re is part of IAT Insurance Group, a specialty P&C provider offering intermediary-led reinsurance support to niche sectors, including aviation. Although not a front-line insurer, its aviation treaty and facultative placements make it a go-to reinsurer for brokers and primary carriers seeking excess capacity.
Aircraft insurance offerings:
Aviation treaty and facultative: Reinsurance for airlines, GA, and structured programs
Excess and surplus capacity: For brokers managing high-value or aggregation-heavy placements
Aircraft insurance works much like other forms of commercial insurance. It protects owners and operators from the financial risks associated with operating an aircraft. At its core, aircraft insurance is designed to cover damage to the aircraft itself (hull coverage) and legal liability for injury or property damage caused to others (liability coverage).
Policies are highly customisable, depending on several factors:
In the US, aircraft operators must also comply with Federal Aviation Administration (FAA) regulations. They require that any aircraft used for commercial purposes carry a minimum level of liability insurance under 14 CFR Part 205.
For brokers, the process typically starts with a risk assessment. Insurers look at factors such as aircraft type, age, maintenance history, and pilot qualifications. From there, underwriters calculate the premium and outline policy terms.
Coverage can include:
Once in place, the policy kicks in when there’s a covered incident such as a runway overrun or a bird strike. The insured files a claim, and the insurer steps in to cover repair costs, replacement, or third-party claims, depending on the policy’s terms.
Not all aircraft insurance companies are built the same.
When refining your aircraft insurance companies list, go deeper than names or budget. Here are the top factors to look for when choosing among the best aircraft insurance companies:
Top providers clearly segment their offerings: flight schools, helicopters, private jets, UAVs—all receive tailored coverage. This precision is key because the flexibility in aircraft insurance companies list reflects true risk understanding.
In crises like the AerCap war-risk claim tied to Russia (where insurers like AIG, Chubb, and Lloyd’s paid over $1 billion), response time and fairness matter. Brokers should request data on average claim settlements and client testimonials.
Although brokers need to control aircraft insurance costs, they can't undercut coverage. Premiums should reflect policy strength, covering hull, liability, war risks, hangar-keeper’s clauses. Premium hikes from inflation and regulatory shifts demand depth over cheapness.
As new risk segments grow—like commercial UAVs and eVTOLs—the ability to tailor coverage is essential. Inclusion of add-ons like passenger liability and in-flight cover matters when building a list of best aircraft insurance companies shortlist.
A provider's financial health matters. Brokers should check for strong credit ratings and reliable reinsurance backing to ensure that the insurer can pay claims even during tough economic times.
It’s worth understanding what not to do—check out this quick video on the most common mistakes brokers make when choosing an aircraft insurance company:
In aviation insurance, there’s little room for uncertainty. The companies with the biggest market share are usually the ones that have weathered volatility, paid out on major claims, and adapted to shifts in risk, year after year. They’re often the best aircraft insurance options not just because they’re big—but because they’ve proven they can handle the pressure.
So when you’re building an aircraft insurance companies list or helping a client choose, market leaders are a good place to start. Use this article as a guide—it’s one more tool to help you place business with confidence.
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