Friday, July 03, 2015

AIG is interested in providing reinsurance cover to low-cost airlines in the country

Mumbai: "We are looking at covering more airlines in India provided we get competitive pricing. We may look at providing cover to low-cost airlines here if we get them at a profitable price," he said.

"The markets are soft globally and so the aviation insurance premium is falling here too. Aviation cover depends on factors like age of aircraft, quality and occurrence of incidents," Rakesh Jain, chief executive at Reliance General Insurance, which is one of the only few private insurers to offer aviation cover.

Jain attributed the major improvements on risk management practices along with fleet modernisation for the falling premia.

Though the company refused to admit it has given cover to AirAsia India, the market says the Reliance group company is the lead insurer for the newest low-cost carrier has taken cover from.
02/07/15 PTI/Mydigitalfc.com
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