UPDATE 1-Hannover Re sees 25 mln eur hit in Air France crash

Tue Jun 23, 2009 12:36pm EDT
 
[-] Text [+]

* Hannover Re awaits more information on cause of crash

* Hannover Re share closes up 3.3 percent

* Munich Re sees net claims at mid-double-digit mln dollar

(Adds detail, background)

FRANKFURT, June 23 (Reuters) - Hannover Re (HNRGn.DE) expects net damage claims of 25 million euros ($34.65 million) linked to the June 1 crash of an Air France (AIRF.PA) plane in which 228 people died, Hannover Re said on Tuesday.

A spokeswoman for the world's fourth-biggest reinsurer said the estimate was preliminary as the company awaited further information about the possible causes of the crash.

Investigators have not yet found flight recorders, France's air accident authority said on Tuesday after a report that signals from the recorders had been picked up. [nLN677110]

Flight AF 447 from Rio de Janeiro to Paris crashed into the Atlantic after flying into stormy weather. Brazilian and French ships are still searching the ocean for debris and bodies. Hannover Re's share closed up 3.3 percent at 25.52 euros, outpacing a 1.4 percent drop in the DJ Stoxx index of European insurance shares .SXIP.

The world's biggest reinsurer Munich Re (MUVGn.DE), in turn, said on Tuesday that its estimate of the net damage claims it faces from the crash remain in the mid-double-digit million dollar range.

($1=.7216 Euro)

(Editing by Hans Peters)

((Reporting by Jonathan Gould; Reuters Messaging: jonathan.gould.reuters.com@reuters.net; +49 69 7565 1242)) Keywords: HANNOVERRE/CRASH

(C) Reuters 2009. All rights reserved. Republication or redistribution ofReuters content, including by caching, framing or similar means, is expresslyprohibited without the prior written consent of Reuters. Reuters and the Reuterssphere logo are registered trademarks and trademarks of the Reuters group ofcompanies around the world.nLN717272

 

Featured Broker sponsored link