BEIJING Chinese insurance companies have started paying compensation to the families of passengers aboard a missing Malaysia Airlines MASM.KL plane presumed crashed in the southern Indian Ocean, state news agency Xinhua said on Thursday.
The families of seven passengers received 4.17 million yuan in compensation on Tuesday, China Life (601628.SS), the country's largest insurance company, was quoted by Xinhua as saying. China Life said it had 32 clients on board the flight and estimated its total compensation at around 9 million yuan.
"China Life is deeply grieved at the news and will ensure compensation and all other related services are fully implemented," Xinhua quoted an unnamed company spokesman as saying.
New China Life Insurance Co. Ltd. (601336.SS) will compensate the families of nine clients on board the flight with about 1 million yuan, Zhang Hongxia, a public relations official from the firm, told Reuters by telephone.
Shanghai-based China Pacific Insurance Co., Ltd. (601601.SS) said it had offered its first compensation payment of 525,000 yuan as of Wednesday, Xinhua said.
Sunshine Insurance will compensate 500,000 yuan to one of its clients and his family, a woman surnamed Zhang from the firm said.
China Life and China Pacific Insurance could not be reached for comment.
Malaysia Airlines Flight MH370 is thought to have crashed on March 8 with the loss of all 239 people aboard after flying thousands of miles off course. More than 150 of the passengers were Chinese.
(Reporting by Sui-Lee Wee, Additional reporting by Beijing Newsroom; Editing by Nick Macfie)
Trending On Reuters
For years Indian businesses have lobbied for a nationwide sales tax, hoping to replace a chaotic structure that inflates costs and halts their trucks at state borders for duty payments, and to unify the country into one of the world's largest single markets. But after political compromises that finally got a goods and services tax (GST) bill before parliament, they have turned wary. Full Article
India to spend $8 billion to boost irrigation, reduce dependence on monsoon Full Article
"Wow, pulled back wrong throttle" - captain of crashed TransAsia plane Full Article