A Reuters report has also named the lead underwriter as Chubb

Willis Towers Watson is the broker for Ethiopian Airlines, the company confirmed to Reuters news agency today, adding that Chubb was the lead underwriter.

Ethiopian Airlines Flight 302 crashed shortly after take off south of the Ethiopian capital Addis Ababa on Sunday killing 157 passengers and crew.

Willis Towers Watson and Chubb have been contacted by Insurance Times but declined to comment.

Once the dust settles on the human cost of the accident, focus will inevitably turn to the material cost. A well-placed source told Insurance Times that the price of the near-new plane alone would be approximately $110m (£82m), and likely to have been insured for $130-$150m

”Its early days on the liabilities, and it will depend on the ticketing, nationalities etc., if its a million [US dollars] a head that’s $157m, if its 2 million a head it would be $315m, its far too early to say.”