The lead insurer of the Helios Airways Boeing 737-300 that crashed in Greece will pay out regardless of any negligence on the part of the airline.

Global Aerospace Underwriting Managers (GAUM) confirmed it is the lead underwriter on a joint hull and liability policy that is understood to have been brokered by Aon.

A spokesman for GAUM said that the pool would pay out under strict liability regardless of negligence.

The value of the hull has been estimated at $30m (£16.5m) and the liability limit at $600m, (£331m), according to sources.