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Air India Crash Set to Trigger $609m in Insurance Claims
The Straits Times
|June 18, 2025
India's deadliest plane crash in more than a decade is set to send shock waves through the aviation insurance industry and trigger one of the country's costliest claims, estimated at around US$475 million (S$609 million).
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MUMBAI -
"This aviation insurance claim could be one of the biggest in India's history," said Mr Ramaswamy Narayanan, chairman and managing director of the General Insurance Corporation of India, one of the two companies that have provided coverage for Air India.
The claim for the aircraft hull and engine is estimated at around US$125 million, according to Mr Narayanan. He estimates additional liability claims for loss of life for passengers and others will be around US$350 million. The sum is more than triple the annual premium for the aviation industry in India in 2023, according to GlobalData.
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