Private risk firms eye A-I account

Mumbai: Private insurance companies are gearing to enter the race for the Air-India (A-I) account once it is up for bidding. Last year A-I paid a premium of $14 million to the New India Assurance-led consortium. The account will expire on June 30.
As the competition hots up, all interested parties are expected to offer hefty discounts.
Last year, the consortium had offered hefty discount of 28 per cent to bag the account.
When contacted, a senior A-I executive said: “We will shortly invite bids for aviation insurance for this year,” he said. Other than PSU companies, eight private insurance companies are also readying for the race. The private players are ICICI Lombard, Tata AIG, Bajaj Allianz, Iffco-Tokyo, Cholamandalam, Royal Sundaram, Reliance General Insurance and HDFC.
14/04/06 P R Sanjai/Business Standard

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