Renewal of Air India’s insurance contracts

Despite their poor financial capacities, the insurance companies of the private sector have massively bidden to the tender for the renewal of insurance contracts for 42 aircrafts belonging to the company Air India whose total sum insured amounted to 2 billion USD for hull and liabilities. To face competition, the two major private companies ICICI Lombard General Insurance and Bajaj Allianz General Insurance have submitted a joint bid.