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Aviation Insurance

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Kenya is the second biggest hub in respect to general aviation aircraft on the continent of Africa.

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Last updated: 28 Mar 2014
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Aviation Insurance

Kenya is the second biggest hub in respect to general aviation aircraft on the continent of Africa.

In 2013, Xplico will also be offering insurance to Kenyan aviation operations. Our research demonstrates that aviation insurance within the Kenyan Insurance market is not well developed since local insurance companies lack the capacity to cater for this specialist sector. The majority of aviation cover is placed by local retail brokers with international insurance companies outside Kenya by either dealing directly with London or via South African wholesale brokers.

While these limitations might act as logistical restrictions to growth, the aviation industry in Kenya has in fact been growing. The number of licensed aircraft has increased from 968 in 2009 to 1029 in 2011. The industry is likely to expand further due to increased trade between East African countries and the rest of the world; increased tourism and the expansion of Kenyan airport facilities. Furthermore, aircraft acquisition has also been made easier over recent years.

Xplico has recognised the importance for a local insurance company to offer insurance solutions by providing aviation hull and liability insurance to owners and operators of aircraft. It has therefore recruited a specialist general aviation underwriter who has 25 years of experience within the Lloyd’s aviation insurance market.