FRANKFURT, March 18 Allianz has
started to make payment on claims linked to the disappearance of
a Malaysian airliner earlier this month, the German insurer said
Allianz confirmed last week it is the lead insurer covering
the Malaysia Airlines jet that disappeared over the
Pacific Ocean on March 8, while Willis has emerged as broker.
Flight MH370, a Boeing 777-200ER, vanished from civilian air
traffic control screens off Malaysia's east coast less than an
hour after take-off.
An international land and sea search for the jetliner and
the 239 people aboard is now covering an area the size of
Australia but police and intelligence agencies have yet to
establish a clear motive to explain its disappearance.
"Allianz Global Corporate & Specialty and other
co-reinsurers of the Malaysia Airlines aviation hull and
liability policy have made initial payments," the insurer said
in a statement.
"This is in agreement with the insurance broker, Willis, and
is in line with normal market practice and our contractual
obligations where an aircraft is reported as missing."
German business daily Handelsblatt earlier reported payment
in the case would amount to around 100 million euros ($139.13
million) for the aircraft and the people aboard.
It is unclear how much of the claim will be passed on to
other insurers in the consortium.
Allianz declined to comment on the financial details.