Russian insurance company Ingosstrakh paid the insurance compensation worth more than $23 million to the Kogalymavia airline for the Airbus A321-200 aircraft that crashed on October 31 in Egypt, the insurer said in a statement on Tuesday.

Until now, the insurer did not name the sum of compensation citing commercial secret.

"Ingosstrakh paid the insurance indemnity under the aviacasco agreement to the Kogalymavia airline for the sum more than $23 million in connection with the total loss of the aircraft Airbus A321-200," the insurer said in a statement.

On October 31, the A321 aircraft of Russian airline Kogalymavia flying from Sharm el-Sheikh to St.Petersburg crashed about half an hour after departure, 100 km south of the provincial capital of North Sinai town of El Arish near the village of El Hasna. There were 217 passengers and seven crew members on board, all of them died. This crash became the largest in the history of the Russian aviation. After that crash Russia suspended all flights to Egypt.

On November 17, at a meeting with Russian President Vladimir Putin, head of the Federal Security Service Alexander Bortnikov said that the crash had been caused by a terrorist act.