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American International Group Inc. (ÌìÃÀÍøÕ¾´«Ã½´«Ã½) has issued an estimate of its total expected losses relating to Hurricanes Charley, Frances, Ivan and Jeanne, and Typhoons number 16 (Chaba), 18 (Songda) and 21 (Meari) in Japan.

ÌìÃÀÍøÕ¾´«Ã½´«Ã½ estimates that its total after tax net losses will be in a range of $500 to $515 million. This total includes ÌìÃÀÍøÕ¾´«Ã½´«Ã½’s own Domestic Brokerage Group (including Lexington Insurance Company), Domestic Personal Lines business and Foreign General operations as well as ÌìÃÀÍøÕ¾´«Ã½´«Ã½’s prorated share of losses from ÌìÃÀÍøÕ¾´«Ã½´«Ã½’s majority investment in Transatlantic Holdings Inc. and participation in Lloyd’s Syndicate 1414 (Ascot); and ÌìÃÀÍøÕ¾´«Ã½´«Ã½’s minority investments in Allied World Assurance Holdings Ltd, IPC Holdings Ltd., and Fuji Fire & Marine Insurance Company Limited.

ÌìÃÀÍøÕ¾´«Ã½´«Ã½ Chairman M. R. Greenberg said, “This unusually severe storm season has resulted in a tragic loss of life and property. Our first priority has been to deploy our claims professionals throughout the affected areas to serve our customers. The importance of ÌìÃÀÍøÕ¾´«Ã½´«Ã½’s claims handling expertise, strong financial position and diverse business mix will be evident when we announce third quarter results.”

Topics Catastrophe Natural Disasters Profit Loss Hurricane ÌìÃÀÍøÕ¾´«Ã½´«Ã½