Boeing crashes leave US$450m bill for European insurers
Europe’s biggest insurers are on the hook for as much as US$450m from a pair of airline crashes involving Boeing 737 Max planes. Munich Re reckons it could pay E150m (US$168m), an estimate that CFO Christoph Jurecka called “very conservative.” Swiss Re expects to pay up to $135m; Hannover Re says it will pay out as much as $56m. Allianz and Zurich Insurance Group -- covering directors’ and officers’ liability -- may have to part with a combined $91m. For now, the insurers’ losses are on paper only. It will be months, if not years, before pay-outs are made, with Bloomberg Intelligence estimating the bill for settling passengers’ claims from the 737 Max crashes in Ethiopia and Indonesia at more than $1b. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-05-17/general/boeing-crashes-leave-us-450m-bill-for-european-insurers
https://portal.staralliance.com/cms/logo.png
Boeing crashes leave US$450m bill for European insurers
Europe’s biggest insurers are on the hook for as much as US$450m from a pair of airline crashes involving Boeing 737 Max planes. Munich Re reckons it could pay E150m (US$168m), an estimate that CFO Christoph Jurecka called “very conservative.” Swiss Re expects to pay up to $135m; Hannover Re says it will pay out as much as $56m. Allianz and Zurich Insurance Group -- covering directors’ and officers’ liability -- may have to part with a combined $91m. For now, the insurers’ losses are on paper only. It will be months, if not years, before pay-outs are made, with Bloomberg Intelligence estimating the bill for settling passengers’ claims from the 737 Max crashes in Ethiopia and Indonesia at more than $1b. <br/>
