Ethiopian Crash Could Be Largest Non-War Aviation Reinsurance Claim: Willis Re

Liability claims related to the Ethiopian Airlines crash and the grounding of Boeing 737 MAX 8 aircraft could be the largest non-war aviation reinsurance claim on record, hitting reinsurers’ profitability, reinsurance broker Willis Re said. The crash of Ethiopian Airlines flight ET 302 on March 10 killed 157 passengers and crew, the second deadly crash involving a Boeing Co 737 MAX 8 airliner in five months. As the crash site and black boxes are investigated, the 737 MAX 8 has been grounded worldwide as a precautionary measure and regulators are stepping up action to improve air safety while Boeing is carrying out a software upgrade to the plane’s automated flight control system.