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GIC Re expects to pay up to $7.5 million for EgyptAir crash

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General Insurance Corp. of India expects to pay out $5 million to $7.5 million related to the recent crash of an EgyptAir Airbus A320 in the Mediterranean Sea, reports Asia Insurance Review citing the Economic Times.

"We have a 5.5% share [of the total claim]in the Egyptian airline," a GIC Re executive said. The claim will be related primarily to damage to the airline and passenger liability. The plane was carrying 66 passengers, including 10 crew members, when it crashed into the Mediterranean Sea.

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