Carlyle seeks $700mn over insurers’ failure to pay for Russian jet seizures
Carlyle Aviation Partners, one of the world’s biggest aircraft leasing operators, is seeking $700mn from more than 30 insurers and reinsurers after they failed to pay out over jet seizures by Russian airlines.
The action, filed in Florida late on Monday, includes a claim that the insurers, which include the US’s AIG, Axis and Chubb, have acted in bad faith on policies covering 23 aircraft following the war in Ukraine.
That claim could allow a jury to award punitive damages to Carlyle beyond the $700mn that a person familiar with the case said the company was seeking.
This story originally appeared on: Financial Times - Author:Robert Wright
