` Chinese Insurance Companies have begun to offer Pay-Outs to the Relatives of Missing Boeing MH370 ‘

#AceFinanceNews – BEIJING – March 27 – Chinese insurance companies have begun to offer payouts to the relatives of the missing Boeing 777-200, news agency Xinhua reported on Thursday.

The firms begun offering insurance payments after Malaysian Prime Minister Najib Razak announced that the plane had probably fallen into sea with no survivors.

On Monday, the prime minister held a press-conference, where he said that the flight has been last registered on satellite images to the west of the Australian city of Perth in the Indian Ocean.

Najib added that the plane was too far from the place where it could land, so the most probable version was that it had crashed in the ocean.

As of today, China’s largest insurance firm China Life has already paid more than 4 million yuan ($666,000) to the relatives of 7 out of 32 passengers of the missing Boeing, who were clients of the company.

All insurance payments will stand at 9 million yuan ($1.46 million).

On Wednesday, China Pacific Insurance, registered in Shanghai, made the first insurance payment of 525,000 yuan ($87,500). The relatives of 9 passengers, clients of China Life Insurance Co, will receive up to 1 million yuan ($166,000).

Chinese and Malaysian News

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