Credit Suisse puts Malaysian jet losses at $600m

Flight MH370, the vanishing Malaysian Airlines flight, may cost insurers up to $600 million, Credit Suisse has reported.

The aircraft hull loss is currently estimated to be $100 million, while passenger liability claims could reach up to $500 million depending on the nationality and once obtained, cause of the incident. As such, total insurance losses will likely be between $500 and $600 million.

Reinsurer Hannover Re confirmed that the company expected a net loss burden of approximately €30 million.

Search efforts still continue for the flight, which disappeared on Saturday March 8 on its way from Kuala Lumpur to Beijing.