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Reinsurance buffers crash claim, Tata AIG logs Rs 1,008 crore profit
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The General Insurance Corporation had estimated claims of over $400 million last year from the Air India Ahmedabad crash. Since then, reinsurers have settled some claims. Tata AIG, which was the lead insurer, had a 45% share of the risk. “We fully provided for it in that same quarter itself. Net of reinsurance, our exposure was less than Rs 50 crore,” said Amit Ganorkar, MD & CEO, Tata AIG General. What's Your Reaction?
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