willis ∙ iata ∙ aapa asia pacific aviation insurance conference
willis ∙ iata ∙ aapa asia pacific aviation insurance conference
willis ∙ iata ∙ aapa asia pacific aviation insurance conference
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AFV Banding Review - 2007 Renewals<br />
We have also reviewed the treatment of renewals falling into AFV bands.<br />
AFV in excess of US$20,000m<br />
AFV %<br />
Change<br />
As would be expected, this banding sees the smallest number of renewals (6), but sees the largest volume of AFV, which totalled<br />
US$208,663m or 32.5% (34.4% in 2006) of the world’s fleet. Passengers totalled 748.8m, or 30.5% (25% in 2006) of the world’s<br />
total, an increase of 11.6%. They generated US$385.8m in premium, a reduction of 9.8% or 24.3% of the total premium.<br />
AFV between US$10,000m & US$20,000m<br />
This banding generated AFV of US$194,357m or 30.2% (24.6% in 2006) of the world’s fleet, an increase of 4.2%. Passengers<br />
totalled 737.3m, or 30.1% (27.3%) of the total, an increase of 5.3%. US$370.1m in premium or 23.3% of the total was<br />
produced; this was a reduction of 17% in premium.<br />
AFV between US$5,000m & US$10,000m<br />
This banding saw AFV of US$85,653m or 13.3% of the world’s fleet, an increase of 7.9% on 2006’s figure. Passengers<br />
totalled 259.2m an increase of 3% or 10.6% of the total. The banding generated US$174.8m in premium or 11% (unchanged)<br />
of the total premium, a reduction in premium of 17.4%, which was the highest level of percentage reduction seen in any<br />
banding for the second year running.<br />
AFV between US$1,000m & US$5,000m<br />
PAX %<br />
Change<br />
2006 Premium<br />
US$ m<br />
Greater than US$20bn 10.7% 11.6% 427.7<br />
Between US$10bn & US$20bn 4.2% 5.3% 445.7<br />
Between US$5bn & US$10bn 7.9% 3.0% 211.5<br />
Between US$1bn & US$5bn 14.0% 14.9% 409.7<br />
Between US$500m & US$1bn 16.0% 20.1% 108.5<br />
Between US$100m & US$500m 3.6% 6.4% 199.7<br />
2007 Premium<br />
US$ m<br />
Premium<br />
Change US$ m<br />
Premium %<br />
Change<br />
This banding generated AFV of US$116,188m or 18.1% (20.3% in 2006) of the world’s fleet, an increase of 14%. Passengers<br />
totalled 516.8m or 21.1% (24.9%) of the total, an increase of 14.9%. This banding generated US$375.4m in premium, a<br />
reduction of 8.4% or 23.6% (25%) of the total premium.<br />
385.8<br />
370.1<br />
174.8<br />
375.4<br />
97.6<br />
186.1<br />
-41.9 -9.8%<br />
-75.6 -17.0%<br />
-36.7 -17.4%<br />
-34.3 -8.4%<br />
-10.9 -10.0%<br />
-13.6 -6.8%<br />
AFV between US$500m &<br />
US$1,000m<br />
This banding generated AFV of<br />
US$18,946m or 2.9% (3.6% in 2006)<br />
of the world’s total AFV, an increase of<br />
16%. Passengers totalled 95.5m or<br />
3.9% (4.4%) of the total, an increase<br />
of 20.1%, generating US$97.6m in<br />
premium or 6.1% of the total premium,<br />
this figure is a reduction of 10.0% on<br />
2006’s premium figure.<br />
AFV between US$100m &<br />
US$500m<br />
This banding sees the greatest level of<br />
activity with 76 renewals, but only<br />
generated AFV of US$18,741m or<br />
2.9% (3.7% in 2006) of the world’s<br />
fleet, a 3.6% increase. Passengers<br />
totalled 94.3m or 3.8% (6.4%) of the<br />
total, an increase of 6.4%. It generated<br />
US$186.1m in premium, a reduction of<br />
6.8% or 11.7% (13%) of the total<br />
premium.