AIG said today that late claims arising from the 2004 hurricane season will put its insured loss total at $126.9m.
The company said the charge is a 24.8% increase on its original catastrophe loss estimate, which reported $512.2m in such losses after taxes in the third quarter.
The charge is expected to reduce fourth-quarter net income by roughly 5 cents a share, AIG said.
It also said it would take a $43.6m after-tax charge related to the South Asian tsunamis.
A separate, after-tax charge of $53m will be taken in connection with the company's $126m settlement with the US Securities and Exchange Commission, the US Department of Justice and federal prosecutors in Indiana, AIG said.
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.
