Markel International has stopped writing aviation risks, reports said today.
Reports said a circular sent out to brokers said falling rates and rising capacity had made achieving underwriting profits in the sector difficult, thus it was dropping the practice.
The circular is reported to have said that aviation underwriting was a profitable arm of Markel's business, contributing 5% of its $740m gross premium in 2003.
But deteriorating aviation rates and increasing capacity had impacted upon any opportunity to improve the profit margin in the future, reports said.
