Tata AIG to vie for Indian conglomerate's airline insurance business

Air India is insuring its fleet at a premium of Rs 118 crore in fiscal 2021 on a standalone basis.

Tata AIG General Insurance Company, a joint venture between Tata Sons and USA’s AIG, will join the race to provide insurance cover for the Indian conglomerate's airlines, including Air India.

Indian state-owned companies presently provide insurance cover to the airlines and re-insure the assets with foreign firms. AIG is already the biggest reinsurer for Air India, counting among a international consortium providing cover to the airline’s 117-strong fleet. With its Indian partner now owning Air India and Air India Express, it will make a bid to get the business, said a source close to the development.

A source said Air