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XL Catlin leads insurance coverage for downed EgyptAir flight

Posted On: May. 19, 2016 12:00 AM CST

XL Catlin leads insurance coverage for downed EgyptAir flight

XL Catlin is the lead underwriter for the EgyptAir Flight 804 airliner that crashed in the Mediterranean Sea on Thursday, industry sources said, and Marsh L.L.C. is the broker.

The plane, an Airbus A320, was flying from Paris to Cairo when it swerved sharply upon entering Egyptian airspace and crashed into the water, media reports said. Sixty-six people were on board.

Both Marsh and XL Group P.L.C. declined to comment.

Heliopolis, Egypt-based EgyptAir had said on its Facebook page that the Egyptian Ministry of Foreign Affairs was reporting that wreckage of the missing aircraft has been found near Greece's Karpathos Island, but later media reports said the wreckage was ultimately not from Flight 804.

Media reports said that France's Accident Investigating Bureau has sent a team of three investigators to Cairo, along with a technical expert from Leiden, Netherlands-based Airbus Group S.E., which manufactured the plane.

The Egyptian civil aviation minister, Sherif Fathi, said during a news conference in Cairo that it was too soon to draw conclusions about the cause of the crash, reports said, but also said that a terror attack is more likely than a technical failure.