Allianz and Atrium lead coverage on $97.3m Malaysian jet

Allianz Global Corporate and Specialty has confirmed it is the lead aviation hull and liability reinsurer for Malaysia Airlines MH17.

The flight crashed yesterday (Thursday July 17) over Eastern Ukraine with the loss of 295 lives. Some groups have claimed it was shot down.

The flight’s insurer is believed to be Etiqa – the same Malaysian insurer that covered MH370, the Malaysian flight that disappeared in March this year.

According to an internal loss estimate by Aon, the aircraft’s value is about $97.3 million.

Atrium Underwriting Group is believed to be the policy’s leader for war coverage. Atrium has declined to comment or confirm this at the time of publishing.

“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,” Hugo Kidston, head of communications at Allianz Global Corporate and Specialty, told Intelligent Insurer.

“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.”