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Collision of Two Jets near New Delhi

  • 350 Deaths

  • The Third Worst Civil Air Disaster

Hannover, November 1996:

The unfortunate accident of 12 November 1996 represents one of the most severe accidents in aviation history. This is particularly in terms of the loss of 350 lives: Only the collision of two Jumbos in Teneriffe (1977), and the crash of a Japanese widebody, involved the loss of more lives, 583, and 520 respectively. Both of these accidents resulted in insured losses of several hundred million USD. This level of insured loss is not expected following this disaster in India.

The size of the loss that will be paid by insurers and reinsurers is, at this early stage, not yet clear. Only the value of the 1982 built Saudi Arabian Jumbo is known, namely USD 36 Mio. The Hannover Re would expect this loss to have very limited impact on the results of its aviation portfolio. One reason for this is that the Hannover Re is not involved in the Saudi Arabian policy. Substantial claims are not expected from the treaty section of the aviation portfolio.