Ryanair has set up its own insurance subsidiary to cover its aircraft and passenger liability claims. The budget airline said it would use the subsidiary to help it self-insure against certain risks and to offload other risks to external insurance companies.
The subsidiary, Ladoga Insurance, would aim to transfer most risks to reinsurers but was currently exposed to total claims of up to €6 million, the company said. ‘‘Ladoga reinsures virtually all of the risk...
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