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International

Air India renews insurance cover with 15% rise in premium

September 29, 2014 Reprints

India's national airline Air India Ltd. has renewed its insurance cover with only a 15% rise in premium, despite the hardening aviation insurance markets worldwide, The Hindu Business Line reports.

The insurers had initially sought a 25% increase in premium, sources said.

Air India is to pay $26.75 million as premium and a group of public sector insurers is providing the cover.

Reinsurance for the program is underwritten at Lloyd's of London.

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Air India renews insurance cover with 15% rise in premium

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