It is too early to estimate the cost of the damage caused by Tuesday's terrorist atrocities in the US, the boss of a leading American insurer has said.
Maurice Greenberg, chairman of American International Group (AIG) said he was unable to put a figure on the firm's losses.
AIG is the largest underwriter of commercial and industrial insurance in the United States.
Mr Greenberg said yesterday: “These attacks are an enormous human and national tragedy. Like everyone, our major concern at this time is the human cost and suffering incurred. All monetary losses pale against this suffering. AIG people are working around the clock to provide immediate assistance to all who have suffered losses in this tragedy.
“While we of course expect to incur losses resulting from insurance claims, it is far too early to estimate their magnitude. However, AIG is the strongest insurance and financial services company in the world, with assets in excess of $400bn (£266bn). We are well diversified, both as to type of insurance coverages and geographically. Our total losses stemming from this tragedy will not impact our solid financial condition.”
The company was relying on back-up facilities to keep its New York operation running and all key functions were working.
