Allianz says it is lead insurer for Malaysian Airlines

FRANKFURT - Allianz said on Monday it is the lead insurer for Malaysian Airlines, one whose planes disappeared on a flight from Kuala Lumpur to Beijing on Saturday.

"We extend our sympathy to all those affected by the loss of flight MH370, and will be working closely with co-insurers to support our client, Malaysian Airlines, as fully and quickly as possible," an Allianz spokesman said on Monday.

A massive air and sea search, now in its third day, has failed to find any confirmed trace of the plane or the 239 people aboard.

Earlier on Monday a source at broker Willis said that it was the broker for Malaysia Airlines' hull and liability insurance cover.