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Allianz takes $30 million hit on Malaysia Airlines plane

May 16, 2014 - 6:00am

Allianz S.E. has said it has taken a hit of $30 million on Malaysia Airlines Flight 370, which disappeared in March, Reuters reported.

The insurer's CFO Dieter Wemmer said total insured loss on the aircraft is about $350 million. Mr. Wemmer said the amount is higher than original estimates as costs related to searching for the aircraft have to be added to the loss, Reuters reports.

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