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BEIJING: Chinese insurance companies have started paying compensation to the families of passengers aboard the Malaysia Airlines Flight MH370 that crashed in the southern Indian Ocean, state news agency Xinhua said on Thursday. The families of seven passengers received 4.17 million yuan (RM2.5mil) in compensation on Tuesday, China Life, the country's largest insurance company, was quoted by Xinhua as saying. China Life said it has 32 clients on board the flight and estimated its total compensation at around 9 million yuan (RM5mil). "China Life is deeply grieved at the news and will ensure compensation and all other related services are fully implemented," Xinhua said, citing an unnamed company spokesman. Shanghai-based China Pacific Insurance Co Ltd said it had offered its first compensation payment of 525,000 yuan (RM281,208) as of Wednesday. Sunshine Insurance said it had compensated 500,000 yuan (RM267,817)for a family of three, while New China Life Insurance Co Ltd estimated its compensation would reach 1 million yuan (RM535,634) for its nine clients on board the flight. The companies could not be immediately reached for comment. There were 153 China nationals on board the MH370. - Reuters http://www.thestar.com.my/News/N ... -insurance-payouts/
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