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Healix Win Healthcare Trust Provider Award

It's official - Healix is Best Healthcare Trust Provider.

Healix Health Services were delighted to receive the Award for Best Healthcare Trust Provider at last night's Health Insurance Awards in London.

Receiving the Award for the 5th time over the last 6 years, Richard Saunders, Sales Director of Healix Health Services, expressed his thanks to the intermediaries who had voted and his gratitude to the dedicated team at Healix who work tirelessly to ensure that clients, intermediaries and claimants all receive an exceptional level of service.

“Healix is proud to be recognised by the industry for the high standards we set in providing an attractive alternative to traditional Private Medical Insurance schemes.

“A corporate healthcare trust is a form of self-insurance for group schemes where instead of paying premiums to an insurance company, the money is placed in a trust fund to pay claims”, explained Richard.  “Sounds complicated but it isn’t!  With Healix it is no more difficult than taking out a traditional PMI scheme and ‘stop loss’ insurance means there is no risk. We also handle all the paperwork and administration.

“A Healix healthcare trust is truly bespoke and can accommodate most health and wellbeing benefits, as well as coordinating with providers of other benefits such as Employee Assistance Programmes, Group Income Protection and Health Screening. Healthcare trusts also offer significant tax efficiencies over traditional insurance products as they are not subject to Insurance Premium Tax in the same way.

“Our nurse-led approach to claims management also means that employees enjoy a far superior level of service than normally experienced with traditional schemes using claims administrators.”

The advantages of a Healix Healthcare Trust include:

  • Lower cost to employer
  • Lower P11d rate for employees
  • Superior claims service
  • No ‘Open Referral’ or hospital restrictions
  • Flexibility in scheme design
  • Employer retains funds in low claim years
  • Costs capped in high claim years
  • Other healthcare benefits can be integrated -  Expat iPMI, Cash Plan and Dental 
  • Co-ordination with other benefit provision ensures most effective use of overall health & wellbeing budget
  • Future proofing healthcare spend.

For more information about Healix Healthcare Trusts, click here.


Peer To Peer Mutual Platform Targets Health Insurance

In China, a new model, mutual aid, is on the rise. Different from insurance, members on mutual aid platforms can lower the cost and increase their claim payment through mutual financial assistance and risk sharing.

Users can join this new mutual assistance plan with an advance deposit of only 10 yuan and get a repayment up to 300,000 Yuan. If there are 1 million users, when someone applies for 300,000 Yuan as mutual aid money, each user only needs to share 0.3 Yuan.

Zhongtuobang is the largest mutual aid platform in China with over 1.7 million members, which implemented blockchain technology when going online and launching in 2016.

Qiao Ke, founder of this Shanghai platform, says, " Mutual aid is assistance from the majority to the minority in case of low-probability events such as cancer and accident."

Zhongtuobang has launched multiple mutual aid products including Anti-Cancer & Disease, Travel Accident, Dad & Mom Mutual Aid, Women's Health and a Students Comprehensive Plan.

Ian Youngman, author of new report "Peer to Peer Insurance 2016" says, "This is not an insurer and not a broker but a promise to pay mutual platform that falls between current regulatory sectors. Chinese regulator CIRC, having just cracked down on peer-to-peer lending platforms with new rules and scaring owners by showing them Shanghai prison, has issued dire warnings to customers about the dangers of using such mutual help platforms. CIRC is believed to be working urgently on new legislation to ensure only regulated platforms can stay open."


No Part Of The Insurance Value Chain Is Safe From Change

Peer To Peer Mutual Platform Targets Health Insurance 

Peer To Peer Insurer Lemonade Launches In New York


Peer To Peer Insurer Lemonade Launches In New York

Lemonade, the US's first peer-to -peer insurance company, has been licensed as a full insurance carrier by New York State. NY homeowners and condo owners and renters can now get insured and settle claims instantly, anytime and from any device.

"Technology drives everything at Lemonade" said Shai Wininger, President and co-founder. "From signing up to submitting a claim, the entire experience is mobile, simple and remarkably fast. What used to take weeks or months now happens in minutes or seconds. It's what you get when you replace brokers and paperwork with bots and machine learning."

Lemonade's technology cuts costs as well. Lemonade's home owner's policies start at $35 per month, and renter's at $5 per month. In addition to digitizing the entire insurance process, Lemonade reduces costs through giving. In a reversal of the traditional insurance model, Lemonade treats premiums as if they were still the property of the insured, returning unclaimed money during its annual 'Giveback'. Giveback is a unique feature of Lemonade where each year, leftover money is donated to causes. Cause-selection creates virtual groups of like-minded people, or 'peers.' Lemonade uses premiums from each grouping to pay the claims of those individuals, giving back leftover money to their common cause.

Lemonade is reinsured at Lloyd's of London, and by Berkshire Hathaway (National Indemnity) and other leading reinsurers.

Ian Youngman, industry analyst and author of the brand new report "Peer to Peer Insurance" comments, "Lemonade claims to be the world's first p to p insurer but this is misleading. There are two in the Netherlands that are fully legal, as is the one in Colombia and one in the Czech Republic and one in the UK. The five others in Canada, China and South Africa are not legally authorised."

Youngman goes on to explain, "Technology drives everything at Lemonade from signing up to submitting a claim, the entire experience is mobile, simple and fast. Lemonade is available in both mobile (iOS and Android) and web versions."

Reversal Of The Traditional Insurance Model

In addition to digitising the entire insurance process, Lemonade reduces costs through giving. In a reversal of the traditional insurance model, Lemonade treats premiums as if they were still the property of the insured, returning unclaimed money during its annual Giveback. Giveback is where each-year leftover money is donated to causes. Cause selection creates virtual groups of like-minded people so that each pool chooses a charity. Lemonade uses premiums from each grouping to pay the claims of those individuals, giving back leftover money to their common charitable cause. Lemonade takes a fixed fee out of monthly payments, buys reinsurance and uses the rest for paying claims.

Premiums are calculated individually for each policyholder and are based on a number of different factors including credit history, recent claims and information about the property including its age, size, and construction quality. It also factors in the sensitivity of the home to windstorms, severe weather damage, and fires. It then provides discounts for protection equipment installed, such as fire and burglar alarms.

While prices tend to be cheaper than the more established players, that won’t always be the case. Insurers use different models and data sets to set prices, and on occasion Lemonade prices will be higher than someone else’s.

On Lemonade Insurance the platform handles all claims. Customers open the Lemonade app and hit the Claim button. After they complete the claim report on the Lemonade app, they provide bank account wire information. Once the claim is approved, payment, minus the amount of the deductible, goes directly into that account.

The goal is for the majority of simple property claims to be paid almost instantly. There will be cases in which it will need to fully review the incident to approve the claim, and there will be property damage claims or liability claims that may take longer to settle. Lemonade asks all customers to record a video during the claims process.

This promises to be one of the better ideas but progress will be very slow as it has to get regulatory approval on a state-by-state basis in the USA.

What may make or break it, is the plan that money left in the pool at the end of the year if claims and fees have not eaten it all up, do not go back to the customer but to a nominated charity. Whether customers will welcome the demand that they video the claim and that prices may not be much lower is going to be interesting. Effectively, Lemonade argue that if prices are higher then customers need not worry as spare money goes to charity. How Lemonade reconcile the argument that the money does not belong to the insurer but to the customer, with giving surplus to a charity rather than what other p to p insurers and brokers do, back to the customer, will be interesting as it smacks of arrogance from the platform.


No Part Of The Insurance Value Chain Is Safe From Change

Peer To Peer Mutual Platform Targets Health Insurance 

Peer To Peer Insurer Lemonade Launches In New York




July Passenger Demand Shows Resilience

Global passenger traffic results for July show an acceleration in demand growth over the previous five months. Total revenue passenger kilometers (RPKs) rose 5.9%, compared to the same month last year, with all regions reporting growth. Monthly capacity (available seat kilometers or ASKs) increased by 6.0%, and load factor was 83.7%--just 0.1 percentage point below the record July high achieved in 2015.

“July saw demand strengthen, after a softening in June. Demand was stimulated by lower fares which, in turn, were supported by lower oil prices. And near record high load factors demonstrate that people want to travel. But, there are some important sub-plots to the narrative of strong demand. Long-haul travel to Europe, for example, suffered in the aftermath of a spate of terrorist attacks. And the mature domestic markets are seeing demand growth stall while Brazil and Russia contract,” said Alexandre de Juniac, IATA’s Director General and CEO.

Details of passenger market - July 2016

Total Market 100.0% 5.2% 5.6% -0.3​% 80.7%
Africa 2.2% 3.2% 5.9% ​-1.7% 65.0%
Asia Pacific 31.5% 9.0% 7.2% ​1.3% ​79.1%
Europe 26.7​% 2.0% 2.7% ​-0.6% ​82.9%
Latin America 5.4% ​4.6% 1.9% ​2.1% ​80.8%
Middle East ​​9.4% 7.3% 14.4% ​-4.6% ​70.3%
North America 24.7% 4.3% 4.3​% ​0.0% 86.3​%
(1)% of industry RPKs in 2015  (2)Year-on-year change in load factor  (3)Load factor level

International Passenger Markets

July international passenger demand rose 7.1% compared to July 2015, which was an increase over the 5.0% yearly increase in June. Airlines in all regions recorded growth. Total capacity climbed 7.3%, causing load factor to slip 0.2 percentage points to 83.5%.

  • Middle East carriers posted the strongest growth in July, with a 13.1% year-over-year increase; demand had dipped in June owing to the timing of Ramadan. Capacity rose 15.5%, causing load factor to drop 1.7 percentage points to 78.6%
  • Asia-Pacific airlines’ July traffic rose 9.8% compared to the year-ago period. Capacity increased 8.6% and load factor climbed 0.9 percentage points to 81.7%. Reports suggest that Asian passengers are putting off traveling to Europe in favor of regional trips owing to terrorism fears: while traffic on Asia-Europe routes fell by 0.9% in June, international traffic within Asia rose 8.1%, which was a four-month high
  • European carriers saw July demand increased by 4.1% compared to a year ago, which was the slowest among the regions. Demand has been affected by the recent terrorist attacks as well as political instability in parts of the region: traffic has grown at an annualized rate of just 1.4% since March. Capacity climbed 4.7% and load factor dipped 0.5 percentage points to 86.7%, which was still the highest among regions
  • North American airlines’ traffic climbed 4.8%, while capacity rose 5.1% with the result that load factor fell 0.3 percentage points to 86.1%. Seasonally adjusted volumes have risen at an annualized rate of more than 8% since March helped by transpacific and leisure traffic to Central America and the Caribbean
  • Latin American airlines’ demand rose 7.5% compared to July 2015 as the upward trend in traffic resumed following a soft patch in the first quarter of 2016. Capacity increased by 4.2%, boosting load factor 2.6 percentage points to 85.3%
  • African airlines experienced a 7.4% increase in traffic compared to a year ago but this relates mainly to the strong upward trend in seasonally-adjusted traffic during the second half of 2015. Capacity rose 5.9%, and load factor climbed 1.0 percentage point to 72.4%, lowest among regions.

Domestic Passenger Markets

Domestic travel demand climbed 3.8% in July compared to July 2015, its slowest pace in 19 months. China and India are booming while more mature markets are stuck in neutral, and Brazil and Russia are sliding backwards. Domestic capacity climbed 3.7%, and load factor rose 0.1 percentage point to 84.0%.

Domestic 36.4% 3.8% 3.7% 0.1% 84.0%
Australia 1.1% 0.2% -1.6% ​1.5% 81.1%
Brazil 1.4% -6.8% -7.8% ​1.0% ​84.4%
China P.R. 8.4​% 10.2% 9.7% ​0.4% 82.1%
India 1.2% 26.2% 20.5% ​3.9% 84.5%
Japan ​​1.2% 0.9% -0.8% 1.1% 66.7%
Russian Federation 1.3% -3.2% -7.5% 3.8% ​87.3%
​US ​15.4% 1.6% 3.1%​ ​-1.3% 87.2​%
(1)% of industry RPKs in 2015  (2)Year-on-year change in load factor  (3)Load factor level
  • Brazil’s traffic decline reflects not only the country’s economic turmoil, but also the fact that, as airlines reduce services, options for travelers are being curtailed by fewer and less frequent air connections. August demand could see an uptick owing to the Olympics
  • Japan domestic traffic has trended sideways for the past 18 months in line with underlying weak momentum in consumer spending. However, service reductions and shifts to smaller aircraft helped push up load factor 1.1 percentage points to 66.7%, an all-time July high.

The Bottom line

“Passenger demand has broadly grown in line with the average of the past 10 years but the industry faces some potential headwinds, including lingering impacts from the series of terrorist attacks and the fragile economic backdrop. The environment in which aviation operates is dynamic—even volatile. Speed is of the essence. As an industry we must be prepared for rapid innovation in order to manage shocks and take advantage of opportunities as they arise,” said de Juniac.

International Expatriate and Business Travel News


Medical Costs In Asia March 2016

The latest info graphic from Pacific Cross International, looks at medical costs around Asia.

Medical Costs In Asia March 2016

  • Thailand treatment of CARDIAC ARREST $38,906 USD
  • Malaysia treatment of BENIGN NEOPLASM OVARY $2,338 USD
  • Singapore treatment of UNS MALIGNANT NEO ESOPHAGUS $42,833 USD
  • Indonesia treatment of ACUTE MYOCARDIAL INFARCTION $22,458 USD
  • Vietnam treatment of CATARACT $4,102 USD
  • Philippines treatment of CARDIAC ARREST $74,727 USD
  • Hong Kong treatment of PATHOLOGICAL FRACTURE VERTEBRAE $90,478 USD

About Pacific Cross International

Pacific Cross International is a holding company for the Pacific Cross International group of companies. The group has provided health insurance in Asia for over 65 years. The companies operating entities are located in Hong Kong, Philippines, Thailand, Indonesia, Vietnam and Cambodia. Pacific Cross International as a group provides health insurance for over 75,000+ people representing 53 nationalities living in 42 countries. In 2014 the group provided travel insurance for 2,642,514 travel days for over 200,000+ people.


Tokio Marine HCC Launch New Brand At BIBA 2016

The Tokio Marine HCC new brand will be unveiled at BIBA 2016 on stand C38.

Tokio Marine HCC is a provider of medical stop loss insurance through brokers, consultants and third party administrators. They also specialize in providing short-term medical coverage in the U.S. and international medical insurance coverage in 130 countries for individuals and groups.

BIBA 2016 is the undisputed meeting place for the insurance industry and gives you the opportunity to make things happen. Nearly 6,500 visitors registered to attend BIBA 2015 including 3950 including brokers!


Demand For Reinsurance Finally Picking Up

Reinsurance rates have fallen for the fourth consecutive year at the April 1, 2016 renewals, according to the latest 1st View Reinsurance Renewals report from Willis Re.

However, amidst a gloomy picture of sustained pricing pressure, encouraging signs for reinsurers are starting to show.

Firstly, although insurers continue to seek improvements in pricing and terms and conditions from their reinsurance partners, overall, price reductions at April 1, 2016 were marginally less than those attained 12 months earlier. Any broadening of terms and conditions also remained largely stable.

A number of factors, such as increased limits purchased and some modest losses, including the deterioration of earlier losses, have had an impact. It is also becoming increasingly evident that although most reinsurers are accommodating client requests, many are now at the point where they are no longer prepared to grant any further concessions, irrespective of relationship considerations.

According to the report, this by no means signals a pricing floor or an end to current conditions, but for certain markets it does suggest a slowdown in pricing deterioration.

Demand for reinsurance is also finally picking up.

As observed during the January 2016 renewals, a number of larger insurers, which over the last few years were driving strategies to retain more risk on their balance sheets, have been looking to selectively reverse their thinking. This is leading to an increase in cessions to selected third party reinsurers, both on traditional risk sharing reinsurance structures as well as loss portfolio transfers and adverse development covers.

Commenting on this trend, John Cavanagh, Global CEO of Willis Re, said, "The underlying reasons for the reversal in reinsurance buying strategies are distinctive to each client. But increased regulation, which has promoted a more holistic view of risk and reward, allied with shareholder pressure to improve ROEs by reducing the equity element of the calculation, are clearly two overall drivers. Ultimately, buyers are still reaping the rewards of competitive conditions and reinsurers will need another below average loss year to produce acceptable results in the face of a tough 2016. But the apparent uptick in demand is certainly a positive sign."

Tagged: Price Softening Continues But Uptick In Demand At April 1 Reinsurance Renewals


Bupa CEO Steps Down

Bupa has announced that Stuart Fletcher is stepping down as CEO, with Evelyn Bourke, the Chief Financial Officer, becoming Acting CEO as of 4 April 2016.


Stuart Fletcher was appointed CEO of Bupa in March 2012. Stuart joined Bupa from Diageo where he was President, Diageo International. Previously, he held financial roles at Procter & Gamble and United Glass.

Lord Leitch, Chairman, said, "Stuart has made a very significant contribution to Bupa and leaves the company stronger than ever, having brought the customer and our people even further to the fore, as well as extending Bupa’s global footprint.”

“Under Stuart’s leadership, growth has been good, particularly given challenging market conditions. However, current growth plans do not match our expectations, and so we have agreed that the time is right for him to step down.”

“Evelyn is well placed to take on the Acting CEO role, with a strong track record and extensive experience in financial services, risk and capital management, strategy, and mergers and acquisitions.”

Stuart Fletcher said, "It has been a privilege to have led Bupa’s transformation over the past four years and I am incredibly proud of our achievements. It is the 84,000 colleagues that make Bupa so special, and I express my heartfelt thanks to each of them for the difference they make every day for Bupa’s customers. I know that Bupa will go from strength to strength and I will work to fully support Evelyn during the transition period.”

Evelyn Bourke, Acting CEO said, "It’s an absolute honour to be appointed as the Acting CEO of Bupa. I very much look forward to building on our success for our customers, people and partners."

Evelyn Bourke became CFO of Bupa in September 2012. Evelyn joined from Friends Life where she was Chief Executive Officer of its Heritage division. Previously at Friends Provident, she was the Executive Director responsible for strategy, capital and risk and, before that, Chief Financial Officer. She also served as Finance Director of Standard Life UK.

In due course the Board will conduct an internal and external search process.  


Air Freight Makes Solid Start To 2016

Data for global air freight markets in January showing a rise in freight tonne kilometers (FTK) of 2.7% compared to January 2015. This continues the improving trend witnessed toward the end of 2015, and is the fastest pace since April of last year. The freight load factor (FLF) fell 1.8 percentage points, however, indicating that yields are likely to come under further pressure.

Total FTKs in January surpassed the previous all-time peak reached in February 2015. All regions except the smallest markets of Africa and Latin America expanded in January, but all regions reported declines in the FLF. Despite this good start, the underlying weak trade performance makes it unlikely that growth will accelerate significantly in the coming months.

“It is good news that volumes are growing, but yields and revenues are still under tremendous pressure. Air cargo plays a vital role in our globalized and fast-paced world in which trade is the foundation for long-term prosperity. Removing barriers to trade is a win-win. It will shore-up the foundations for stronger economies. And an improved business environment for air cargo will help facilitate much needed technology and process investments so that the industry will be an even stronger catalyst for growth and development. A third of the value of goods traded internationally are delivered by air. But the value of air cargo goes much deeper in the prosperity that it creates in supporting jobs and economic opportunity,” said Tony Tyler, IATA’s Director General and CEO.

Regional Analysis in Detail

African airlines’ FTKs declined by 1.4% in January compared to January 2015, and the FLF was 22.6%, down 4.8 percentage points, and the lowest of any region. The largest economies in the region, Nigeria and South Africa, are heavily dependent on energy industries and have been hit hard by the slump in global commodity prices.

Asia-Pacific carriers, which comprise almost 39% of all air freight, expanded by 1.3% year-over-year (although the international freight figure was a much lower 0.2%). The FLF fell 2.3 percentage points to 49.8%, still the highest of any region. Emerging Asia trade contracted in the second half of 2015 and in general trade to and from Asia-Pacific is weak.

European airlines’ demand grew by 2.5% in January but the FLF fell 1.5 percentage points, to 41.6%. Growth may have been flattered by the volatility and weakness seen a year ago. The growth trend for volumes looks weak for the months ahead, so there is a strong possibility that Europe could slip back into negative growth.

Latin American carriers continued the weak performance of recent months, declining by 3.6%. The FLF fell 2.7 percentage points, down to 32.9%. Brazil, the region’s largest economy, has struggled, particularly with the fall in the price of oil and other commodities.

Middle Eastern carriers resumed their strong growth trend, expanding 8.8% in January. The FLF was broadly stable, declining just 0.3 percentage points to 39.2%. The region’s airlines continue to enjoy strong growth, helped by large-scale network and fleet expansion.

North American airlines saw FTKs expand 2.5% in January compared to January 2015. The FLF was 34.6%, a fall of 1.4 percentage points. Following the spike in volumes due to last year’s West Coast ports strike, air freight from the US across the Pacific fell away. On the other hand trade with Europe, particularly imports, has increased.


Strong Passenger Demand Continues into 2016

Global passenger traffic results for January 2016 showing demand (revenue passenger kilometers or RPKs) rose 7.1% compared to January 2015. This was ahead of the 2015 full year growth rate of 6.5%. January capacity rose 5.6%, with the result that load factor rose 1.1 percentage points to 78.8%, the highest load factor ever recorded for the first month of the year.

“January maintained the strong traffic growth trend seen in 2015, showing the resilience of demand for connectivity despite recent turmoil in equity markets. The record load factor is a result of strong demand for our product and airlines making the most productive use of their assets. Underlying conditions point to another strong year for passenger traffic, with the latest decline in oil prices likely providing additional stimulus for air travel growth,” said Tony Tyler, IATA’s Director General and CEO. 

January 2016 (% year-on-year)World share1RPKASKPLF (%-pt)​2PLF (level)​3
Total Market 100.0% 7.1% 5.6% ​1.1% ​78.8%
Africa 2.2% 11.0% 7.1% ​2.5% ​71.3%
Asia Pacific 31.5% 10.4% 7.9% ​1.8% ​78.5%
Europe 26.7​% ​4.0% 2.1% ​1.4% ​77.9%
Latin America 5.4% ​5.1% 4.6% ​0.4% ​82.8%
Middle East ​​9.4% 10.5% 12.8% ​-1.6% ​77.9%
North America 24.7% 4.3​​% ​2.9% ​1.1% ​80.7%
(1)% of industry RPKs in 2015  (2)Year-on-year change in load factor  (3)Load factor level

International Passenger Markets

January international passenger traffic rose 7.3% compared to the year-ago period. Capacity rose 5.9% and load factor rose 1.0 percentage point to 78.8%. All regions recorded year-over-year increases in demand.
  • Asia Pacific carriers recorded an increase of 10.3% compared to January 2015. Capacity rose 7.6%, pushing up load factor 2.0 percentage points to 79.2%. A 7.3% increase in the number of direct airport connections within the Asia region over the past 12 months or so has helped to stimulate demand.
  • European carriers’ international traffic climbed 4.2% in January compared to the year-ago period. Capacity rose 2.6% and load factor rose 1.2 percentage points to 78.8%. Airline strikes and the shutdown of Russia’s Transaero caused the region’s traffic to fall in the last quarter of 2015. Volumes have picked up somewhat in recent months.
  • North American airlines saw demand rise 2.4% in January over a year ago. Capacity rose 1.3%, pushing up load factor 0.8 percentage points to 80.3%. North American international traffic growth was weakest among the regions, as carriers have focused on the stronger and larger domestic market.
  • Middle East carriers had the strongest year-over-year demand growth in January at 10.9%, helped by ongoing network and fleet expansion. Capacity rose 12.9% and load factor dipped 1.4 percentage points to 77.8%.
  • Latin American airlines’ traffic climbed 8.9% in January. Capacity rose 7.8% and load factor increased 0.8 percentage points to 82.5%, highest among the regions. Domestic traffic remains under pressure from economic difficulties in the region’s biggest economies, notably Brazil, but the strong growth in international demand shows little sign of slowing.
  • African airlines saw January traffic jump 12.1% compared to January 2015. This continues the strong upward trend in travel since mid-2015 that coincides with a jump in exports from the region over the same period. With capacity up 8.2%, load factor rose 2.5 percentage point to 71.3%.

Domestic Passenger Markets

Domestic air travel rose 6.8% in January year-on-year. Capacity rose 5.1% and load factor was 78.9%, up 1.3% percentage points. 
January 2016 (% year-on-year)World share1RPK​​ASKPLF (%-pt)​2PLF (level)​3
Domestic 36.4% 6.8% 5.1% 1.3% 78.9%
Australia 1.1% 3.8% 2.3% ​1.1% 76.9%
Brazil 1.4% -4.1% -2.6% ​-1.3% ​83.3%
China P.R. 8.4​% 11.9% 10.6% ​0.9% 79.1%
India 1.2% 22.9% 21.9% ​0.7% 84.7%
Japan ​​1.2% 1.2% -4.3% ​3.5% ​64.7%
Russian Federation 1.3% -2.0% -5.2% ​2.2% ​68.4%
​US ​15.4% 5.5%​ 3.7%​ ​1.4% ​81.0%
(1)% of industry RPKs in 2015  (2)Year-on-year change in load factor  (3)Load factor level
*Note: the seven domestic passenger markets for which broken-down data are available account for 30% of global total RPKs and approximately 82% of total domestic RPKs.
  • India’s domestic air travel soared 22.9% in January compared to a year ago. Growth is being propelled by the comparatively strong domestic economy and increases in air services. The Indian market overtook both Australia and Japan during 2015 and is currently level with Russia at around 1.2% of global RPKs.
  • Russian domestic traffic slipped 2.0% in January. Despite the decline, the Russian domestic load factor reached an all-time January high as capacity fell at a faster rate, suggesting that local carriers have absorbed traffic affected by the shutdown of Transaero.
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Medical, Healthcare, Expatriate And Travel Insurance

A guide to leading international medical, healthcare, expatriate and travel insurance underwriters, companies, providers, operating within leisure, expatriate and corporate travel business markets, globally.