Advertisement

Allianz pays insurance on missing Malaysia jet

Allianz pays insurance on missing Malaysia jet
Photo: DPA

German insurance giant Allianz has started paying out millions of euros for the missing Malaysia Airlines passenger jet MH370.

Advertisement

The airline and relatives of the missing passengers will be paid, a spokeswoman for the firm said on Wednesday in Munich, confirming a report in the Handelsblatt newspaper.

The plane, with 239 people on board, has been missing since it disappeared from radar screens on the night of March 7. It departed from Kuala Lumpur en route to Beijing, China.

Allianz is the main party of a consortium which insured the Malaysia Airlines fleet, the Handelsblatt said.

Aviation insurance policies usually include a tight time schedule of when payments have to be made to prevent disputes after an accident, which would damage the image of insurers.

The total sum to cover the missing jet is said to be more than $100 million, although this was not confirmed by the Allianz spokeswoman.

The jet has still not been found.

READ MORE: Iranian on Malaysia plane was going to Germany

More

Join the conversation in our comments section below. Share your own views and experience and if you have a question or suggestion for our journalists then email us at [email protected].
Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.

Please log in to leave a comment.

See Also