A new report from insurance provider Allianz Commercial says gross written insurance premiums for the aviation sector are projected to reach a 20-year high of more than $8 billion in 2024.
According to the insurance provider, airlines will contribute approximately 35 percent of the premiums, while general aviation is expected to account for 47 percent. Allianz says the surge in premiums comes as 2024 air traffic is anticipated to reach a record high—growing by 10.4 percent year over year, predominantly driven by the Asia-Pacific and North American regions.
