The cover was placed by Willis
Allianz Global Corporate & Specialty (AGCS) is the lead hull and liability reinsurer for the Malaysia Airlines airliner that crashed in eastern Ukraine on Thursday. Russian separatists are accused of having shot it down.
Soon after the crash of MH17, AGCS released a statement that said: “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.
“As leading reinsurer of Malaysia Airlines for aviation hull and liability coverage, Allianz Global Corporate & Specialty stands by to support our client as fully and quickly as possible.”
The coverage was brokered by Willis, a spokeswoman for the company said, although she declined to name the insurer on the policy, Bloomberg reports.
Aon has valued the plane at $97.3m and, and according to the reports, Lloyd’s agency Atrium Underwriting is the lead insurer for war coverage.
Allianz and Willis were also the lead reinsurer and broker covering the Malaysia Airlines aircraft MH370 that disappeared over the Pacific Ocean in March.