12 March 2014 Insurance

Allianz lead insurer for missing jet

German insurer Allianz has confirmed that it is the lead insurer for Malaysia Airlines following the disappearance of one of the airline’s jets over the Pacific Ocean on Saturday.

While the company has confirmed its position as lead insurer for aviation hull and liability coverage, it declined to comment in any detail.

“We extend our sympathy to all those affected by the loss of flight MH370, and will be working closely with co-insurers to support our client, Malaysia Airlines, as fully and quickly as possible,” said an Allianz spokesman.

The search, now in its fifth day, has been extended to a land search but so far has failed to find any confirmed wreckage.

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