Typhoon Tokage roared through Southwestern Japan on Wednesday, killing at least 48 persons, injuring more than 200, and leaving a trail of destruction in its wake. The NHK, Japan’s public broadcasting service, reported that the toll was the highest in …
American International Group Inc. (AIG) on Thursday reported third quarter 2004 net income of $2.51 billion or $0.95 per share, compared to $2.34 billion or $0.89 per share in the third quarter of 2003. Third quarter 2004 net income excluding …
American International Group Inc. (AIG) has issued an estimate of its total expected losses relating to Hurricanes Charley, Frances, Ivan and Jeanne, and Typhoons number 16 (Chaba), 18 (Songda) and 21 (Meari) in Japan. AIG estimates that its total after …
It’s too bad we can’t harness the energy of Washington’s Mt. St. Helens. It’s been belching great plumes of steam and ash of late, propelling long buried energy some 10,000 feet into the air. So far it’s been a spectacular …
The Insurance Brokers and Agents of Sacramento will celebrate its 25-year anniversary Big “I” Day Oct. 19 at the Sacramento Convention Center, located in the heart of downtown Sacramento. Featuring more than 120 exhibits and attracting around 750 attendees, this …
Standard & Poor’s Ratings Services indicated that the impact of damage caused by typhoons in 2004 on Japanese non-life insurers is likely to be limited, owing to reinsurance indemnities and catastrophe loss reserves. “Non-life insurers’ insurance claims paid on windstorm …
Swiss Re announced that, based on current estimates, it expects claims related to Hurricane Jeanne to be approximately $150 million before tax. The bulletin noted that Jeanne was the “fourth hurricane to make landfall in the US in 2004, having …
A.M. Best Co. announced that it has assigned a financial strength rating of “A” (Excellent) to Chicago-based Aioi Insurance Company of America with a stable outlook. “The rating reflects Aioi America’s status as a core subsidiary of Aioi Insurance Company, …
Napa Calif.-based ScanAlert announced that AIU Insurance Japan, a division of AIG and the largest foreign-affiliated P/C insurer in Japan, is underwriting a new hacker insurance program for all “HACKER SAFE” certified web sites in the country. “The policy extends …
Three leading Lloyd’s Market insurers, Brit Insurance Holdings PLC, Beazley Group PLC and Kiln PLC, have announced preliminary estimates of their losses from the recent hurricanes, which struck Florida and a number of Caribbean islands, and the typhoons which hit …
