European insurers' tab for Boeing crashes likely to total $450 million
Posted On: May. 20, 2019 6:49 AM CST
European insurers and reinsurers are expected to pay up to $450 million to cover damage related to the recent Boeing 737 Max 8 aircraft crashes in Ethiopia and Indonesia, Bloomberg reported citing sources. Germany-based Munich Reinsurance Co. is likely to pay $168 million, Swiss Re Ltd. is expected to pay $135 million while Allianz S.E. and Switzerland-based Zurich Insurance Group A.G. could settle $91 million worth of claims. The total passengers' liability claims could exceed more than $1 billion, the sources said.