AIG unit forecasts Japan quake loss of $700
Insurer AIG said Friday that Japan’s massive earthquake and tsunami disaster would cost its Chartis subsidiary $700 million in the first quarter of 2011.
AIG said the property casualty insurance unit would be hit with another $200 million in pre-tax insurance losses from other disasters, including the January New Zealand earthquake, and huge floods in Australia and Brazil.
The preliminary Chartis loss estimates from the Japan disaster excluded AIG’s general insurance operations in Japan, it said.
It said the maximum loss it could incur from those operations would be $575 million, mainly from its participation in the Japanese government’s earthquake insurance pool for private homes, which holds about $500 million in AIG reserves.
On home losses, it said, “the industry loss remains unquantified at this time.”
“The catastrophe in Japan has affected people, their homes, infrastructure, and businesses both in and outside of Japan, and our industry is working hard to quantify the complex impact of the devastation, a process that will take some time,” said AIG chief executive Robert H. Benmosche in a statement.
“As a result, our preliminary loss estimate will change as the industry losses from (the government insurance pool) for earthquake damage to personal dwellings become known and other information becomes available as the situation in the quarter evolves.”
Banner Life Insurance AIG Genworth Guardian Metlife Investors Midland National
Protective Life Prudential Transamerica West Coast Life Insurance New York Life
Northwestern Mutual MassMutual Mutual of Omaha
Blue Cross Blue Shield of Texas
Aetna
Cigna
Humana
Celtic
United Health Insurance
Scott & White Health Insurance
Texas Life insurance
Austin Texas Health Insurance
Houston Texas Health Insurance
Dallas Texas Health Insurance
Texas Health Insurance
I was thinking why have an author like you choose this topic where in there are a lot of topics that people have more insterest to read to.
of course like your web-site but you need to check the spelling on quite a few of your posts. Several of them are rife with spelling problems and I to find it very troublesome to inform the truth nevertheless I will surely come again again.
Inofratmion is power and now I’m a !@#$ing dictator.
I guess that to receive the from banks you ought to present a firm motivation. Nevertheless, one time I’ve got a term loan, just because I wanted to buy a house.
I really like it when men and women arrive jointly and share opinions, excellent website, hold it up.
You actually make it seem really easy together with your presentation however I to find this matter to be actually something which I think I might never understand. It kind of feels too complicated and extremely wide for me. I’m having a look forward to your subsequent put up, I will attempt to get the dangle of it!
Wonderful site you have here but I was curious if you knew of any user discussion forums that cover the same topics discussed in this article? I’d really like to be a part of online community where I can get suggestions from other experienced individuals that share the same interest. If you have any suggestions, please let me know. Kudos!
Exceptional read, I just passed this onto a friend who was doing some research on that. And he in fact bought me lunch since I discovered it for him smile So let me rephrase that: Thank you for lunch!