Reinsurance buffers crash claim, Tata AIG logs Rs 1,008 crore profit

The General Insurance Corporation had estimated claims of over $400 million last year from the Air India Ahmedabad crash.

Since then, reinsurers have settled some claims.

Tata AIG, which was the lead insurer, had a 45% share of the risk. “We fully provided for it in that same quarter itself.

Net of reinsurance, our exposure was less than Rs 50 crore,” said Amit Ganorkar, MD & CEO, Tata AIG General.