AGCS leads $500mn Airbus helicopter grounding loss

Allianz Global Corporate & Specialty (AGCS) is the lead
insurer for a $500mn loss related to the grounding of faulty Airbus
helicopters last year, The Insurance
Insider can reveal.
AGCS holds a 10 percent lead line on the Airbus product
liability policy, with Global Aerospace understood to have written
a substantial following line.
It is not unusual in the aviation market for followers to take a
larger line on policies than the lead underwriter.
Sources said the loss exhausted the...