According to reports from Reuters on Monday, the Virgin Galactic spaceship that crashed in the Mojave Desert on Friday was insured against losses of $40-$50 million. AIG was the lead underwriter.

British insurance and brokerage services provider Jardine Lloyd Thompson told Reuters that it was the broker on the deal.

"We act on behalf of Virgin Galactic and are providing every assistance, as is appropriate in these tragic circumstances," JLT said in a statement.

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