Airbus product liability loss settled at $390mn

The aviation market has settled a major loss relating to the
grounding of faulty Airbus helicopters last year for more than
$100mn less than initially feared, The Insurance
Insider can reveal.
Sources said that the insurers on the Airbus product liability
policy, which is led by Allianz Global Corporate & Specialty
(AGCS) with a 10 percent line, agreed to pay out $390mn to settle
the claim.
The positive news on the loss - which had been pencilled in by the...