Willis has said 2025 was a year of recalibration for the aviation market in which there was a wave of claims and legal disputes following a High Court ruling that found claims for aircraft stranded in Russia were covered under the contingent section of the aircraft lessors’ hull war insurance policies.

Looking ahead to this year, it said early indicators suggested there would be a continued hardening of hull and liability prices, although it expected increases to be moderate.

The report added: “Insurers are likely to target increases, starting around 10% for clean risks and higher adjustments for major or distressed accounts. Competitive pressures in the war risks market may sustain continued rate reductions, but geopolitical uncertainty could reverse this trend quickly.”

Willis highlighted the following emerging themes as those likely to shape the market during 2026: cybersecurity, geopolitical volatility, technological disruption and sustainability and ESG.