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Malaysia: Domestic insurers ceded most risk to flight

March 27, 2014 - 6:09am

Domestic insurers of Malaysia Airlines' fleet retained only a small share of the aviation hull and liability policy, The Sun Daily reported.

Etiqa Insurance and Takaful Bhd. underwrote the aviation hull and liability policy for flight MH370 but retained only a small percentage of the risk and ceded the majority to a global panel of reinsurers led by Allianz Global Corporate & Specialty SE (AGCS SE), the paper said. "We share a very small portion of the risk", Malaysian Reinsurance Bhd. chief executive Hashim Harun said.

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