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Capital & Insurance
Friday, 19/05/2012, 17:56:32 PM
Catlin leads converage in Libyan plane crash
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Catlin Group Ltd. led insurance coverage of a Libyan Afriqiyah Airways flight that crashed Wednesday short of the runway at Tripoli International Airport, according to market sources.

The plane crashed on its way from Johannesburg, South Africa, to London, killing 103 of the 104 people aboard, according to Libyan authorities. An 8-year-old Dutch boy was the sole survivor, authorities said.

The Airbus A330-200 was built in 2009 and valued at $130 million, according to market sources.

Sources said that Catlin led the coverage and that Aon Ltd. brokered the placement.

Libyan authorities said they had ruled out terrorism as the cause. Photographs showed a field littered with small debris and a large piece of the aircraft's tail.

Afriqiyah Airlines is owned by the Libyan government and is a member of the Arab Air Carriers Organization and the International Air Transport Assn.

Source: Business Insurance

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