Losses from Boeing 737 Max 8 aircraft operated by Ethiopian Airlines have been speculated to be between $50 million and $60 million, Willis Towers Watson (WTW) said.
The Insurance firm said this on Tuesday.
The aircraft heading to Nairobi crashed on March 10, after take-off from Addis Ababa, killing all 159 passengers on board including two Nigerians.
WTW is an Irish-domiciled global multinational risk management insurance brokerage and advisory company.
The firm dates back to 1828 and is the third largest insurance broker in the world.
According to a Reuters report, the global insurance brokerage and risk management firm says it is the insurance broker for Ethiopian Airlines.
The Nigerian victims were identified as a popular Nigerian-born Canadian professor and writer, Pius Adesanmi, and Ambassador Abiodun Bashua, a former Joint Special Representative for the African Union-United Nations Hybrid Operation in Darfur, Sudan.
According to an insurer, major insurance covers for aircraft are the hull all risks, passenger and passenger baggage legal liability, third party legal liability, and crew personal accident.
The hull all risks indemnify against accidental loss or damage to the aircraft, excluding when the aircraft is on the ground, taxing or is moored.
Meanwhile, Mrs Abike Dabiri-Erewa, the Senior Special Assistant to the President on Foreign Affairs and Diaspora, has described the death of three Nigerians in the Diaspora in the Ethiopian Airline crash on Sunday as sad, shocking and devastating.
Dabiri-Erewa in a statement by her media aide, Mr Abdur-Rahman Balogun, said the death of the Nigerians was very painful “at this crucial time of Diaspora development in Africa”.
The affected Nigerians in the ill- fated airline were Prof. Pius Adesanmi of Carleton University, Canada; Ambassador Abiodun Bashua, and Mr Karim Safi, one of the most active Diaspora youths in Europe.
“They all died in the active service of helping and contributing to the growth of Diaspora not only in Nigeria but in Africa as a whole.
“The sudden loss of our distinguished Diasporans in the Ethiopian airline is shocking, sad and devastating,” she said.
She said the distinguished Nigerians had contributed immensely to the development of Diaspora affairs in Nigeria and will be greatly missed.
Dabiri-Erewa offered her condolences to their immediate family members, the Diaspora community and Nigerians in general.
She prayed God to bless the soul of the deceased and condoled the families of all who lost their lives in the crash, for their gentle souls to rest in perfect peace.
She said that the deceased Nigerians were part of the delegates that were supposed to attend the Citizens and Diaspora Directorate/Economic, Social and Cultural Council meeting in Nairobi, Kenya.
“Adesanmi was one of the few professors who taught about the AU and Agenda 2063; while Safi, one of the founders of African Diaspora Youth in Europe (ADYFE), and Ambassador Bashua, a retired senior Nigerian diplomat with many years with the UN.
“The trio were among the 149 passengers and eight crew members from 35 countries aboard the Ethiopian Airline from Addis Abba, Ethiopia, that crashed on Sunday on its way to Nairobi, Kenya,” she noted.
