(Bloomberg) — Allianz SE is the lead hull and liability reinsurer on a Malaysia Airlines passenger jet that was shot down over eastern Ukraine.
The aircraft's value is about $97.3 million, London-based insurance broker Aon Plc, which tracks the market for aviation coverage, said yesterday in a report. Atrium Underwriting Group Ltd. was the leader for war coverage, which could pay claims if the damage is tied to terrorism, Aon said.
"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," Jacqueline M. Maher, a spokeswoman for Munich- based Allianz, said in an e-mailed statement. "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." Atrium's Liz O'Rourke declined to comment.
The Boeing Co. 777 crashed near the town of Torez, about 30 kilometers (18 miles) from the Russian border, killing all 298 people on board. The plane was en route to Kuala Lumpur from Amsterdam. The government in Kiev blamed the attack on pro- Russian rebels, an accusation the separatists denied.
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