Three Japanese insurers have settled their damages against US reinsurer Fortress Re over losses in connection with the 11 September 2001 attacks.
According to reports, Aioi Insurance Company, Somo Japan Insurance Inc, and Taisei Reinsurance Company were awarded approximately ¥16bn (£79m) in real estate and other assets from Fortress Re to settle the case.
Fortress Re had already paid the three companies ¥28.4bn in December 2003 in relation to the suit.
The Japanese insurers claimed they had incurred losses due to Fortress Re's improper accounting as their agent for reinsurance contracts related to the terrorist attacks, said the report.
