Alper Seguros, the largest executive aviation insurance broker in Brazil and official exhibitor at the Catarina Aviation Show 2024, announced growth of 36% in this first half of the year, compared to the same period last year, in its portfolio of operations in the aviation sector. Aviation, indicating growth in the luxury market and the sector’s growth throughout the year. For the brokerage, the growth of the executive aviation market in the country is related to the good progress of the national economy, and may have a positive future ahead.
Alexandre Marroquim, Director of Aviation and Specialty at Alper Seguros, highlights the importance of this scenario for the sector: “We are optimistic about the growth prospects of this market in Brazil. The country's economic and exchange rate stability creates a favorable environment for investment in aviation, boosting the purchase of executive jets and related services.”
Marroquim points out that we are witnessing a significant increase in demand for aviation insurance. Today, between 70% and 75% of the policies issued by Alper Seguros for the aviation sector are for executive aircraft, whether for private use or for the fleet.
Recognized as one of the main luxury events in Latin America, the Catarina Aviation Show offers an opportunity for professionals and companies in the sector to come together, share knowledge and explore the latest market trends. During this year's Catarina Aviation Show, Alper Seguros offers and guidance to event participants, providing tailored insurance solutions to meet the specific needs of the aviation industry and high-value assets such as yachts and luxury cars.
“At Alper Seguros, we understand the importance of agility in air operations. We cannot allow an aircraft to be grounded for lack of insurance documents. Our commitment is to provide immediate and quality service, ensuring the safety and peace of mind of our customers”, highlights the Director of Aviation at Alper Seguros.
Aircraft Insurance Scenario in Brazil
The insurance culture is still not as well practiced in Brazil as it is in the airline sector, which leads hiring across the entire production chain (from aircraft construction to enger/cargo transportation). Currently, the vast majority of aircraft owners and operators take out not only mandatory insurance (RETA), but also other policies with personalized coverage for comprehensive protection of their assets and that of third parties.
Despite being a widespread culture in the aviation sector, doubts still arise about some coverages, such as the war clause, which in addition to covering wars also covers hostile events, kidnappings and acts of vandalism. Natural phenomena, in turn, are also frequently covered in detail in insurance policies, reflecting the complexity and scope of the protections offered.
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