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The package include four policies involving airframe and part all risks and liability insurance, airframe war perils, airframe deductible insurance, and third-party war liability EXL insurance, with a total insured amount of USD 580 million. Such a policy structure is in line with that of the factory's controller EADS NV (EPA: EAD).
Aviation insurance package is a kind of product requiring sophisticated technics, and also the highlight in the factory's assurance arrangement. And the deal is expected to enhance PICC Property & Casualty's position in the Chinese aviation insurance market.
In addition, the insurer's shares closed at HKD 4.73 on the Stock Exchange of Hong Kong on May 13, 2009, compared to the closing price of HKD 4.63 on the previous trading day.
Source: www.cnstock.com (May 14, 2009)
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