FRANKFURT/LONDON, March 10 (Reuters) – Germany's Allianz hassaid it is the lead insurer covering the Malaysia Airlines jet thatdisappeared over the Pacific Ocean on Saturday, while Willis hasemerged as broker.

Allianz confirmed on Monday that it was the main provider ofinsurance on the aircraft itself and the liabilities attached tothe passengers and cargo but declined to comment on the extent ofits exposure or identify other insurers with exposure.

“We extend our sympathy to all those affected by the loss offlight MH370, and will be working closely with co-insurers tosupport our client… as fully and quickly as possible,” an Allianzspokesman said on Monday.

A source at London-based Willis said on Monday the companyhad brokered the cover and that Malaysia Airlines was aclient but did not disclose the size of the deal or the insurersinvolved.

“Malaysia Airlines is a client of ours (both hull andliability) and we have people working closely on the ground withthem at the moment,” the source said.

Aviation insurance is typically sold to a syndicate of insurerswith one taking the lead, or largest slice, with several othercompanies sharing the rest.

While the insured value of the aircraft could amount to around$100 million, the liabilities and compensation typically amounts toa far higher amount.

An air and sea search, now in its third day, has failed to findany confirmed trace of the plane, a Boeing 777-200ER,delivered in 2002, or the 239 people aboard.

Meanwhile, legal experts said settling claims could be difficultunless wreckage is found and investigators can establish a cause ofthe disaster.

“All those potentially involved from a liability perspective:the airline itself, the hull manufacturer, engine manufacturer, theservice departments, and the airport security department will wishto ascertain the cause of the loss of the aircraft,” said AnnaTipping, partner at Norton Rose Fulbrightin Singapore.

“There is a complex matrix of contractual liability between allof these entities.”