American Financial Group Inc. issued a preliminary estimate of its expected losses from the terrorist attacks of September 11, 2001. Based on information available at this time, AFG estimates that its pre-tax losses after reinsurance will be less than $20 million. The company has limited property exposures and expects losses to come principally from excess liability and workers’ compensation coverages.
Carl H. Lindner, AFG’s chairman and CEO stated: “We extend our prayers and deepest sympathies to the families and friends of those who lost their lives in this horrible tragedy. We, as all Americans, are repulsed by the tragic events of last week. Our Company and its employees support the efforts of the U. S. government and those of all peace loving nations to restore world order.”
Through the operations of the Great American Insurance Group, AFG is engaged primarily in private passenger automobile and specialty property and casualty insurance businesses and in the sale of retirement annuities, life, supplemental health and long-term care insurance products.
Banks Still Face Legal Claims After $25 Billion Settlement
MF Global Judge to Examine Insurance Payments for Former Executives
Daredevil CEOs May Put Companies at Risk
California Independent Contractor Law May Be Liability for Agents, Brokers
North Carolina Continues Auto Regulation Debate As Rates Stay Same for 2012
Long-time California Lobbyist Looks to 2012 Legislation Affecting Insurance
Mine Safety Chief Seeks to End Complacency Over Safety
Virginia Court Grants Rehearing of Global Warming Claims Case
