NEW YORK: Allianz SE is the lead hull and liability reinsurer on a Malaysia Airlines (MAS) passenger jet that was shot down over eastern Ukraine.
The aircraft’s value is about US$97.3 million (RM310.3 million), London-based insurance broker Aon Plc, which tracks the market for aviation coverage.
In a report Aon said Atrium Underwriting Group Ltd. was the leader for war coverage, which could pay claims if the damage is tied to terrorism.
In a statement, a spokeswoman for Munich- based AllianzJacqueline M. Maher said as leading reinsurer of Malaysia Airlines for aviation hull and liability coverage, Allianz Global Corporate & Specialty stands by to support their client as fully and quickly as possible.
“It is much too early to comment on reports of this tragic incident while details are still being confirmed, except to extend our deepest sympathy to all those affected by this crash.”
The Boeing Co 777 crashed near the town of Torez, about 30km from the Russian border, killing all 295 people on board. The plane was en route to Kuala Lumpur from Amsterdam.
The government in Kiev blamed the attack on pro- Russian rebels, an accusation the separatists denied.
The attack threatens to raise tensions in Ukraine’s civil war.
Carriers including Deutsche Lufthansa AG, Air France-KLM and OAO Aeroflot are shifting planes away from the region, which sits astride some of the busiest air routes between Europe and Asia.
Atrium, which provides coverage through the Lloyd’s of London market, didn’t return an email and phone message left outside normal business hours. Enstar Group Ltd. purchased a majority stake in Atrium last year.
Willis Group Holdings Plc brokered the coverage, said Colleen McCarthy, a spokeswoman for the company who declined to name the insurers on the policy --Agencies