Crashed Pakistan A320 jet insured for $19.7 mln
SYDNEY/LONDON May 29 – The Pakistan International Airlines (PIA) Airbus SE A320 jet that crashed into a crowded residential district of Karachi last week killing 97 people on board was insured for $19.7 million, an airline document showed.
Pakistan’s National Insurance Company Ltd was the insurer and Marsh was the reinsurance broker for PIA’s annual policy that runs until Dec. 29, the document on the airline’s website showed.
Insurance industry sources said the insurance was reinsured into international reinsurance markets. One source familiar with the matter said AIG was the lead reinsurer.
AIG did not respond immediately to a request for comment.
(Reporting by Jamie Freed in Sydney and Carolyn Cohn in London; editing by Jason Neely)
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