Insurer will contribute $1bn from existing funds
AIG said it expects after-tax losses of at least $1.3bn (£800m) from Superstorm Sandy, net of reinsurance.
The insurer said it would contribute $1bn from existing funds to its US property insurance subsidiaries to help cover the losses.
The bill for Sandy would cost about $2bn before tax, AIG said.
“Due to the complexity of factors contributing to the losses, there can be no assurance that AIG’s ultimate losses associated with this storm will not differ from this estimate,” the insurer said in a statement.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
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