Lloyd's Syndicate 318, managed by Beaufort Underwriting Agency, has been hit by another air crash loss.
Insurance coverage for the $3.9m Boeing 737-200 owned by Mandala Airlines that crashed on Monday in Medan, Indonesia, will be led by the syndicate, according to sources.
The plane, en route to Jakarta, crashed shortly after take-off in a residential area of Medan, killing most of the 117 passengers and crew as well as some people on the ground. The cause of the crash is still being investigated.
In August, Syndicate 318 was also named as the lead insurer for a Colombian passenger plane that crashed in Venezuela that month, killing all 160 on board.