KUALA LUMPUR, March 12 Shares in Allianz
Malaysia, the lead insurer of the missing Malaysian
Airlines jetliner, extended declines to fall 3.6 percent on
Wednesday on concerns about the potential impact of insurance
The company is a unit of Germany's Allianz which
has said it is the main provider of insurance on the aircraft
and the liabilities attached to the passengers and cargo.
The search for a missing Malaysia Airlines
jetliner expanded on Wednesday to cover an area stretching from
China to the Andaman Sea, with authorities no closer to
explaining what happened to the plane or the 239 people on
Shares of Allianz Malaysia have lost 5.4 percent since the
plane went missing on Saturday. Shares in the German parent
company have dropped 1 percent this week.
Shares in Malaysian Airlines were unchanged on Wednesday.
They have fallen 4 percent this week but have recovered ground
from a drop of as much as 18 percent to a record low on Monday.
By comparison Malaysia's main stock index was down 0.5
percent on Wednesday and has lost 0.8 percent this week.
Etiqa Insurance and Takaful Bhd, the insurance arm of
Maybank, is also an insurer covering Malaysian Airline's fleet
of aircraft, a domestic newspaper has reported. Maybank shares
slipped 0.8 percent on Wednesday and have lost 2.4
percent this week.
Local reinsurer MNRB Holdings, which local media
has said is one of the reinsurers, fell 1.8 percent on Wednesday
and has lost 3.8 percent this week.
Officials for Etiqa and MNRB did not respond to requests for
Malaysia Airports Holdings, the operator of Kuala
Lumpur International Airport where the Boeing 777 last took off,
saw its shares fall 2.7 percent on Wednesday. They have dropped
5.7 percent this week.
(Reporting by Yantoultra Ngui; Editing by Edwina Gibbs)