Bahrain-based Arab Insurance Group (ARIG) has posted net losses of $51.1m (£36m) for the nine months to September 2001, compared to $49.9m (£35m) in revised net losses during the same period in 2000.
The company, the biggest reinsurance operation in the region, said the 11 September attacks in the US "severely upset" the performance of its wholly owned subsidiary ARIG Reinsurance.
ARIG Re is set to lose an additional $28.2m (£20m) from 11 September-related claims, as well as another $4m (£2.8m) in investments by year-end.
As a result, ARIG has begun withdrawing from its aviation insurance business.
ARIG's total assets fell by 12% to $1.6bn by end-September 2001.
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.
