Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Thursday, March 22, 2018 03:36:25 PM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

US insurer AIG sees up to $2b losses from 3Q disasters

Share your thought
Post a comment »
Read all () »

AFP, New York :
American International Group expects a $2 billion hit in the third quarter from a trio of major hurricanes in the Americas and a catastrophic Mexican earthquake, the insurer said Monday.
AIG estimated pre-tax losses of between $2.9 billion and $3.1 billion, with the breakdown of above $1 billion each for Hurricanes Harvey and Irma, $600-$700 million from Hurricane Maria and $150 million from other events, including the Mexican earthquake.
Those are the expected losses to AIG following reinsurance claims. AIG estimated the impact after taxes at $1.9 to $2.0 billion.
The estimate includes the toll of biblical-scale flooding in Houston in Hurricane Harvey, repeat battering of the Caribbean with Irma and Maria and the Mexico calamity that claimed more than 360 lives.
AIG chief executive Brian Duperreault said the array of catastrophes marked an "unprecedented" period of disaster.
"Through AIG's financial strength and long experience with natural catastrophes, our teams across the company have reacted quickly to provide our clients with the claim funds, resources and expertise they need to recover and rebuild with greater resilience," he said.
AIG said the figures were preliminary and that the final number could be significantly different.
Shares of AIG fell 1.2 percent to afterhours trading to $61.05.

Add Rate

News Archive

Inside The New Nation

Editorial »

Justice in Tonu murder, don't make our country safe for killers and rapists

TWO years have elapsed after the murder of college student Tonu, and justice seems elusive for her family. Investigators claimed to have failed to identify any suspect, let alone arrest any. But many believe powerful quarters in the Comilla cantonment area are stalling the progress. The investigators have repeatedly come ...

Cricket »

Scotland players celebrate the wicket of West Indies batsman Shai Hope during their cricket World Cup qualifier match at Harare Sports Club on Wednesday. Zimbabwe is playing host to the 2018 Cricket World Cup qualifier matches featuring 10 countries.

City »

A delegation of Bangladesh-Egypt Friendship Association (BEFA) presenting a book on Father of the Nation Bangabandhu Sheikh Mujibur Rahman to former Prime Minister of Egypt Prof. Dr. Essam Sharaf (2nd from left) at a function held in a Cairo hotel recently. BEFA President Advocate Faisal Reza (left), Better Bangladesh Foundation (BBF) Chairman and Founder Masud A Khan (2nd from right), Hossain Mazumder (extreme right), Director of BBF and Vice President of BEFA and also owner of Ali Air Travels joined the programme.

Entertainment »

Katrina Kaif is Bollywood`s most popular actress globally

Katrina Kaif has secured the top spot in a list of popular Bollywood actress outside India, according to a study. She is followed by Anushka Sharma, Alia Bhatt, Kareena Kapoor Khan and Kajol.The findings are a part of consumption trend study done by Spuul, a video-on-demand (VOD) streaming platforms for ...

International »

Trump faces legal storm over alleged sexual misconduct

Reuters, New York :US President Donald Trump faced legal challenges from women on two fronts on Tuesday as a defamation lawsuit brought by a former Apprentice TV show contestant moved forward and a former Playboy model who said she had an affair with Trump sued to undo a confidentiality agreement.The ...

Football »

Self-belief is key to success: Ronaldo

AFP, Lisbon :Cristiano Ronaldo says the key to his staggering success is believing nobody is better than he is -- and he advised his Portuguese teammates to adopt the same attitude.The Real Madrid star made the comments as he accepted the Portuguese player of the year award in Lisbon."We should ...

Entertainment »

Sayali Bhagat reveals her Marathi Debut

Sayali Bhagat, the title holder of 'Femina Miss India World turned actress was last seen in 'Yaariyan' in 2014 is now enjoying motherhood and preparing for her next project simultaneously. She was recently seen at a book launch event of her dear friend, Sonia Golani at Marini queen exhibition at ...

International »

China ready to fight `bloody battle` to regain its rightful place in world: Xi

AFP, Beijing : President Xi Jinping delivered a blistering nationalist speech on Tuesday, warning against any attempts to split China and touting the country's readiness to fight "the bloody battle" to regain its rightful place in the world.Xi's address capped an annual session of the National People's Congress that paved the ...

Editorial »

Developing nation status without reaching benefits to common people meaningless

DESPITE Bangladesh's positive achievements towards becoming a developing nation soon growing inequality, unemployment, lack of good governance, high cost of borrowing and less trade facilities are still the major challenges that need to be overcome to achieve the developing nation's status. The nation requires sustained efforts to fight back these ...

City »

Former Vice-Chancellor of Dhaka University Dr. AK Azad Chowdhury, among others, at the inaugural ceremony of a programme on the debut of 'Green Environment Movement' on the premises of Public Library in the city on Tuesday.

City »

BNP Standing Committee Member Amir Khasru Mahmud Chowdhury, among others, at a discussion on 'Recovering of Democracy, Rule of Law and Role for Holding Impartial Election' organised by Bangladesh Jatiya Dal at the Jatiya Press Club on Tuesday.

International »

N. Korea `in talks to free US detainees` as diplomacy escalates

AFP :North Korea is in talks with the US and Sweden to release three jailed Americans, reports said, as diplomatic activities intensified ahead of Pyongyang's planned summits with Washington and Seoul.The release of the three Korean-Americans is under discussion through multiple channels more than a week after President Donald Trump ...

Editorial »

Bangabandhu in satellite era

THE country's first ever-satellite -- Bangabandhu-1 is ready for launch and likely to be sent into orbit next month. It is a defining moment for the country to enter into the satellite era of our own; which will be ready for commercial use in three months after the final launch, ...

Football »

Ronaldo scores 4 goals as Madrid beat Girona 6-3

AP, Madrid :Cristiano Ronaldo extended his impressive scoring run by scoring four goals in Real Madrid's 6-3 rout of Girona in the Spanish league on Sunday.Ronaldo scored once in the first half and three times in the second, reaching 21 goals in his last 11 matches in all competitions. The ...

Entertainment »

Anushka tried something different for perfection!

These days all the actors try their best to be realistic and get into the skin of their character. From changing looks to mastering the art, they have tried everything. Anushka Sharma and Varun Dhawan who are shooting for their film Sui Dhaaga also doing the same. Anushka took to ...

Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Write a comment to this news