Air India Wednesday invited bids from Indian companies for renewal of insurance for its entire 105-aircraft fleet worth a whopping nine billion US dollars, even as it is in the process of acquiring the remaining 13 of the 27 Dreamliners it has ordered. The bids, invited from Indian insurance firms on stand-alone basis or as a consortium, would have to be submitted by June four, officials of the national carrier said here. The process has begun now in order to firm up the companies which would provide the insurance cover for the fleet which is due for renewal from October one, they said. Two years ago, two consortia had bid for the insurance coverage of the airline's fleet. One was a grouping of New India Assurance (as the lead insurer), Oriental Insurance, National Insurance and United India Insurance, while the other one was the consortium of HDFC Ergo General Insurance, SBI General Insurance and ICICI Lombard.
14/05/14 Moneycontrol.com
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14/05/14 Moneycontrol.com
