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World Crashed Pakistan A320 jet insured for $19.7 million: airline document

13:00  29 may  2020
13:00  29 may  2020 Source:   reuters.com

Mayor: Pakistan plane crashes near Karachi, all 107 killed

  Mayor: Pakistan plane crashes near Karachi, all 107 killed KARACHI, Pakistan (AP) — A passenger plane belonging to state-run Pakistan International Airlines crashed near the southern port city of Karachi on Friday, killing all 107 passengers and crew, the city's mayor said. The aircraft crashed into a crowded neighborhood on the edge of the airport. Mayor Wasim Akhtar said at least five or six houses were destroyed in the crash. The aircraft crashed into a crowded neighborhood on the edge of the airport. Mayor Wasim Akhtar said at least five or six houses were destroyed in the crash. It wasn't immediately known how many casualties were from among the residential area.

SYDNEY/LONDON (Reuters) - 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.

A worker walks past a truck loaded with the wreckage of the crashed plane, in Karachi, © Reuters/AKHTAR SOOMRO A worker walks past a truck loaded with the wreckage of the crashed plane, in Karachi,

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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