American International Group (AIG) has a bigger-than-usual claim on its books after last week's air disaster in Brazil. More than 200 people are believed to have died when the TAM Linhas Aeras jet skidded on landing and careered into a cargo building in Sao Paulo.

The airline has a $US1.5 billion ($1.7 billion) insurance policy, covering it against both liability and risks to the planes themselves. It has named AIG as the lead insurer, although it is understood that the company has up to 95% reinsurance in place.

Analysts say the crash is unlikely to impact significantly on the world insurance market. The financial losses will be limited to liability reserving. The circumstances surrounding the crash indicate it was not caused by faults in the aircraft itself.