Allianz insured missing AirAsia plane

German insurance giant Allianz confirmed on Monday that the firm is the main insurance comapany for AirAsia, the operator a plane that has been missing since Saturday.

Allianz insured missing AirAsia plane
An arrivals board tells customers to "Go to info counter" at Singapore airport Photo: DPA
German insurance giant Allianz confirmed on Monday that the firm is the main insurance comapany for AirAsia, the operator a plane that has been missing since Saturday. 
"We can confirm that Allianz Global Corporate & Specialty UK is the lead reinsurer for AirAsia, for aviation hull and liabilty insurance," a spokesperson said in a statement. 
"It is much too early to comment on reports of this incident at this stage, except to say that our thoughts and prayer are with all those affected by this missing flight." 
Multinational teams searched Monday for any signs of the Airbus 320-200 jet more than a day after  Flight QZ8501 disappeared over the Java Sea with 162 people on board. 
BBC reported that recovery crews are now focussing on an area where an oil spill had been spotted by the Indonesian air force, though it was not clear if it had come from the missing plane. 
The plan lost contact an hour after take off en route from Surabaya in Indonesia's east Jave to Singapore on Sunday after the crew requested a change of flight plan due to stormy weather. 
The head of the search and rescue team told the press on Monday that QZ8501 was likely "at the bottom of the sea". 
It's means that Allianz could be on the hook for another hefty payout, as the latest disapearance marks the end of a disastrous year for Malsian aviation. 
Malaysia Airlies Flight MH370 disappeared while flying from Kuala Lumpur to Beijing in March with 239 passengers and crew. In July, MH17 was shot down over troubled Ukraine, killing all 298 passengers and crew. 
Allianz was also the lead insurer on this planes. 
"We stand by to support our clients as fully and quickly as possible, working in conjunction with the insurance broker and our co-reinsurers," Allianz's statement read. 
The insurer has already seen a drop in stock prices by 1.4 percent since trading began at 8am on Monday. 
AirAsia is the region's biggest low-cost airline and has, until now, had a spotless flying record since its founding in 2001. 

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Google to power data centre with Swedish wind

Google said Tuesday it had entered a ten-year deal with a Swedish wind farm developer to power a data centre in Finland.

Google to power data centre with Swedish wind

The US search giant said it would buy the entire electricity output of a new wind farm to be operated by Swedish firm O2 in Maevaara in the north of Sweden, to cover the energy needs of its data centre in Hamina, south Finland.

No financial details were provided.

Google said it expected to reduce its electricity bill by an amount “depending on the evolution of the market,” according to Francois Sterin, a senior manager at the company’s infrastructure team.

The 24 wind turbines, with a total capacity of 72 megawatts, would become operational in 2015, and construction on the project would begin “in the coming months”, the company said.

The wind power plant will be owned by German insurer Allianz, which is funding the project.

The agreement takes advantage of Scandinavia’s shared electricity market and grid system, Nord Pool, enabling Google to buy the wind farm’s electricity in Sweden and consume the same amount of power at its data center in Finland.

Google already claims to be a carbon neutral company, and has bought into several renewable energy projects around the world, most recently in May when it made a $12 million investment in a South African solar energy project.

AFP/The Local/dl

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