 "Ramaswamy Narayanan, chairman and managing director (CMD) of state-owned reinsurer General Insurance Corporation of India (GIC Re)")
Following the devastating Air India crash that claimed over 270 lives, Ramaswamy Narayanan, chairman and managing director (CMD) of state-owned reinsurer General Insurance Corporation of India (GIC Re), spoke to Aathira Varier and Subrata Panda in Mumbai about claims the insurance industry is expected to see as a result of the tragedy. Edited excerpts:
What would be the claims outgo for the Air India crash?
Overall, I would expect a loss of about $475 million — $125 million for the hull and the remaining of over $350 million for liability. This is what we will be providing for, regardless of
