Insurance renewal of AI concludes at much higher price

The controversial insurance renewal for national carrier Nacil, for 2009-10, has been concluded at a much higher price than the contracted bid between the company and the consortium of insurers, led by Reliance General Insurance. After a change of the pricing, the deal has been put through by Reliance General and Mitsui Sumitomo before the existing cover expires on Wednesday. It is not yet known whether Air India has agreed to the higher pricing. Though Reliance General was officially awarded Air India s deal on September 9, it has taken time to place the deal, since the London market home to ...

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