MH370: Chinese insurance firms have started to compensate families of passengers

Chinese insurance companies have started to pay compensation to the family members of the passengers onboard of the MH370 that was lost in the southern Indian Ocean.

The official Chinese news agency Xinhua reported that the families of 7 passengers have received RM2.5 million in compensation on Wednesday from the biggest insurance company in China, China Life.

China Life has 32 customers who were onboard of the ill-fated flight, Xinhua said.

It estimates total compensation to be more than RM4.8 million.

Meanwhile, an insurance company based in Shanghai, China, Pacific Insurance Co. Ltd said that it has offered its first compensation payment of RM278,293 on Thursday.

Sunshine Insurance reported that it has paid compensation to one out of the three families covered by them a sum of RM265,042.

New China Life Insurance Co. Ltd. estimates compensations could reach RM530,086 for nine of the passengers on the plane.

China had the most number of passengers on MH370.