Rate hikes on aviation lines are looking increasingly likely in light of recent terrorist alerts, according to Patrick de La Morinerie, deputy CEO of Axa Corporate Solutions and director of Marine and Aviation. Speaking to Agence France-Presse on Friday, Morinerie said that, come the renewal of most aviation contracts in November and December, price rises “cannot be ruled out”.

Highlighting the terrorist plot to destroy planes flying between the US and the UK, Morinerie warned that given the current premium level of $2bn generated by aviation business, this would be insufficient to cover potential claims resulting from such an attack.