Insurance Company Exposure to Terror Attacks in the U.S.

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Insurance Company Exposure to Terror Attacks in the U.S.
Insurance Company Exposure to
Terror Attacks in the U.S.

Updated Dec. 13 - Published December 19, 2001

Company 

Country 

Low Estimate

High Estimate

Original Date 

Restated Date 

Description** 

ACE Ltd. Bermuda   $558,800 Sept. 12 Oct. 24 (up) after-tax losses; $636.9M pretax
Aegon Netherlands   50,000 Sept. 19   pretax claims costs
Aetna Inc. U.S.   9,000 Sept. 17 Nov. 7 after-tax losses, net of reinsurance
Aioi Insurance Co. Ltd. Japan $645,000 806,000 Nov. 22   reinsurance claims payments (source: Reuters)
Alea Group Holdings Switzerland   25,000 Nov. 2   net losses, net of reinsurance
Alleghany Corp. U.S.   112,000 Sept. 28   pretax losses, net of reinsurance
Allianz Germany   1,322,000 Sept. 12 Nov. 14 (up) in claims
Allmerica Financial Corp. U.S.   15,000 Sept. 19 Oct. 29 (down) pretax losses
Allstate Corp. U.S.   32,000 Oct. 10   after-tax net losses
Ambac U.S. 6,000 10,000 Sept. 18   unrealized loss
American Financial Group Inc. U.S.   20,000 Sept. 19   net pretax losses
American International Group U.S.   820,000 Sept. 13 Oct. 25 (up) pretax losses
American National Insurance Co. U.S.   18,400 Oct. 23   net of reinsurance
American Re Corp. (Munich Re sub) U.S.   474,100 Nov. 14   pretax losses, net of reinsurance
American United Life Ins. Co. U.S. 5,000 15,000 Oct. 15   after-tax losses
Amlin PLC U.K.   86,704 Sept. 18 Oct. 16 (up) in claims
Annuity & Life Re (Holdings) U.S.   12,000 Sept. 28 Oct. 25 (up) net losses
Aon Corp. U.S.   53,000 Sept. 17 Nov. 7 pretax losses
Argonaut Group Inc. U.S.   5,000 Sept. 20 Oct. 23 (down) net losses; workers comp. losses
Atrium Underwriting U.K.   11,737 Sept. 23   pretax loss
Axa France   550,000 Sept. 13 Sept. 21 (up) pretax losses
Baldwin & Lyons U.S.   20,000 Sept. 21   pretax losses
Berkshire Hathaway U.S.   2,275,000 Sept. 20 Nov. 9 (up) 3%-5% estimated industry losses
Brit Insurance Holdings PLC U.K.   111,000 Sept. 21 Oct. 26 (up) net loss before reinstatements
Canada Life Assurance Co. Canada   9,500 Sept. 27   after-tax loss
CGNU PLC U.K.   51,500 Sept. 17   net losses (source: BBC News)
Chaucer Holdings PLC U.K. 12,000 18,000 Sept. 20   pretax losses (source: Reuters)
Chubb Corp. U.S. 500,000 600,000 Sept. 11 Sept. 24 (up) pretax losses
Cigna Corp. U.S.   25,000 Oct. 1   after-tax losses from claims
Cincinnati Financial U.S.   8,700 Oct. 12   pretax losses, including reinsurance
Citigroup Inc. U.S.   700,000 Sept. 17 Oct. 17 (up) $500M after-tax net loss
Clarica Canada   33,750 Sept. 17   pretax losses
CNA Financial Corp. U.S.   468,000 Sept. 14 Nov. 1 (up) pretax losses; $304M after-tax
Conseco Inc. U.S.   5,000 Sept. 17   pretax losses
Copenhagen Re Denmark   83,800 Oct. 2 Dec. 4 (up) losses
Cox Insurance Holdings PLC U.K.   95,945 Sept. 28 Oct. 25 (up) claims
Delphi Financial Group Inc. U.S. 1,500 2,500 Sept. 17   after-tax loss; net of reinsurance
EMC Insurance Group Inc. U.S.   1,500 Nov. 1   reinsurance losses capped at $1.5M
Employers Re U.S.   600,000 Sept. 14   pretax net losses
Erie Indemnity Co. U.S. 100,000 150,000 Sept. 25 Sept. 27 primary ins. & reinsurance
ESG Re Ltd. Bermuda   1,000 Sept. 17   gross before reinsurance
Everest Re Ltd. U.S.   75,000 Sept. 16   after-tax net loss
Factory Mutual Insurance (FM Global) U.S.   250,000 Sept. 20   net pretax losses, after reinsurance
Fairfax Financial Holdings Ltd. Canada   82,000 Sept. 14 Nov. 6 after-tax exposure (source: Reuters)
Faraday Underwriting Limited U.K.   71,000 Sept. 28   net of recoverables and reinstatements
FBL Financial Group U.S.   1,600 Oct. 31   reinsurance losses
Fortis Ltd. Belgium   18,342 Sept. 24   net losses
Generali Italy   20,000 Sept. 17 Sept. 21 (up) claims payments (source: Reuters)
Gerling Global Re Germany 201,473 247,269 Sept. 26   pretax loss
Goshawk Insurance U.K.   12,000 Sept. 28   net claims
Great West Life Assurance Canada   52,000 Sept. 27   net losses
Hannover Re Germany   364,000 Sept. 13   net losses; gross loss $1.16B
Harleysville Group Inc. U.S.   3,600 Sept. 19   pretax losses
Hartford Financial Services Group Inc. U.S.   440,000 Sept. 18 Oct. 16 (down) after-tax loss; P/C: $420M, Life: $20M
HCC Insurance Holdings Inc. U.S.   30,000 Oct. 9   pretax net loss
Highland Insurance Group Inc. U.S.   2,000 Oct. 2   losses
Hiscox PLC U.K.   43,500 Sept. 25 Oct. 18 (up) net losses; in Lloyd’s of London market

Company 

Country 

Low Estimate

High Estimate

Original Date 

Restated Date 

Description** 

ING Group Netherlands   90,827 Sept. 18 Oct. 15 (up) after-tax losses, net of reinsurance
IPC Holdings Ltd. Bermuda   112,000 Oct. 12 Oct. 23 (up) net claims
Jefferson Pilot Corp. U.S.   4,000 Oct. 29   after-tax claims
Kemper Insurance Cos. U.S. 60,000 80,000 Sept. 19   net pretax losses
Kiln PLC U.K.   65,300 Oct. 8   net losses, net of reinsurance
Le Mans Re France 38,508 53,636 Oct. 15   net claims
Legal & General U.K.   10,000 Oct. 16   net losses, net of reinsurance
Liberty Mutual Group U.S. 200,000 300,000 Sept. 18   after-tax net loss, after reinsurance
Lincoln National Corp. U.S.   33,200 Sept. 14 Nov. 6 (down) net losses; $31.3M reinsurance; $1.9M life
Lloyds of London U.K.   2,700,000 Sept. 26 Nov. 27 (up) net exposure; $8.2B gross
Manulife Financial Corp. Canada   94,016 Sept. 13 Oct. 30 (up) after-tax losses; $63M identified exp.
Markel Corp. U.S.   75,000 Sept. 14   net pretax losses
Max Re Capital Ltd. Bermuda   5,000 Sept. 27   gross claims
MetLife U.S.   208,000 Sept. 14 Nov. 6 (down) after-tax net loss
Mitsui Sumitomo Ins. Co. Ltd. Japan   22,600 Nov. 27   claims payments (source: Reuters)
Munich RE Germany   1,840,000 Sept. 13 Sept. 20 (up) pretax losses (source: Reuters)
Mutual Risk Management Ltd. U.S.   800 Nov. 6   after-tax losses
Nationwide Mutual Insurance Co. U.S.   10,000 Sept. 19   losses
Navigators Group Inc. U.S.   4,500 Sept. 19 Oct. 31 (down) after-tax net loss
New York Life U.S.   100,000 Sept. 14 Sept. 26 (up) claims payments
Nipponkoa Insurance Co. Ltd. Japan   8,420 Sept. 13   claims payments (source: Reuters)
Nissan Fire & Marine Ins. Co. Ltd. Japan   $603,800 Nov. 22   reinsurance claims payments (source: Reuters)
Nissay Dowa General Insurance Co. Ltd. Japan   11,410 Sept. 13 Oct. 24 (up) claims payments (source: Reuters)
Northwestern Mutual Life Insurance Co. U.S.   150,000 Sept. 27 Oct. 9 (down) claims payments
NYMagic Inc. U.S.   9,000 Sept. 19   pretax loss
Odyssey Re Holding Bermuda   80,800 Sept. 14 Nov. 6 (up) pretax net losses; gross loss $171.7M
Ohio Casualty Corp. U.S.   4,700 Sept. 14   after-tax losses
OneBeacon Insurance Group & Folksamerica Re Bermuda   84,600 Sept. 14 Nov. 14 after-tax losses net of reinsurance
Overseas Partners Ltd. Bermuda   114,000 Sept. 25   net losses
PartnerRe Ltd. Bermuda   $400,000 Sept. 21 Nov. 6 pretax losses; after-tax $382M
Philadelphia Consolidated Holding Corp. U.S.   4,000 Sept. 21 Oct. 19 (up) net pretax losses
Phoenix Cos. Inc. U.S.   5,000 Sept. 25   pretax losses net of reinsurance
PMA Capital Corp. U.S.   30,000 Sept. 18   pretax losses
Preserver Group Inc. U.S. $500 700 Sept. 21   after tax losses
Principal Financial Group U.S. 9,000 12,000 Sept. 25   pretax losses net of reinsurance
Prudential Financial Inc. U.S. 75,000 125,000 Sept. 17   after taxes, including reinsurance
PXRE Group Ltd. Barbados   27,190 Sept. 14 Nov. 6 net losses; gross loss $180.7M
QBE Insurance Group Ltd. Australia   123,000 Sept. 21   net loss after-tax A$250M
Reinsurance Group of America Inc. U.S.   10,000 Oct. 17   after-tax net claims
RenaissanceRe Holdings Ltd. U.S.   48,100 Oct. 2 Nov. 14 (down) net losses, gross losses $148.5M
Royal & Sun Alliance Insurance Group PLC U.K.   290,000 Sept. 13 Oct. 11 (up) claims payments
Safeco Corp U.S.   35,000 Sept. 20   losses, net of reinsurance
SCOR Group France 150,000 200,000 Sept. 12   losses (source: BBC News)
Scottish Annuity & Life Holdings Bermuda   630 Nov. 7   pretax losses; after-tax $416,000
SCPIE Holdings U.S.   5,000 Sept. 27   pretax exposure (source: Reuters)
St. Paul Cos. Inc. U.S.   941,000 Sept. 19 Dec.12 (up)* net pretax losses
StanCorp Financial Group Inc. U.S.   5,000 Sept. 17 Nov. 13 (down) pretax losses
SVB Holdings PLC U.K.   42,000 Sept. 23 Nov. 27 (up) in claims (source: Telegraph)
Swiss RE Switzerland   1,258,341 Sept. 12 Sept. 20 (up) after-tax net loss (source: CNNfn)
Taisei Fire & Marine Ins. Co. Japan   603,800 Nov. 22   Reinsurance claims payments (source: Reuters)
Tokio Marine & Fire Insurance Co. Ltd. Japan   65,028 Sept. 13 Oct. 24 (up) claims payments (source: Reuters)
Torchmark Corp. U.S.   1,000 Oct. 23   life insurance claims
Transatlantic Holdings Inc. U.S.   130,000 Sept. 17 Nov. 14 (up) after-tax net loss; $200M pretax
Trenwick Group Ltd. U.K.   100,000 Sept. 14 Oct. 4 (up) net pretax losses; gross loss $404M
UnumProvident Corp. U.S.   15,600 Sept. 14 Nov. 6 (up) after-tax net of reins; gross loss $71M
W.R. Berkley Corp. U.S.   35,000 Sept. 14 Oct. 25 (up) pretax losses; $23M after-tax
Wellington Underwriting PLC U.K.   73,600 Sept. 14 Oct. 4 (up) net pretax losses
Wurttembergische Versicherung AG Germany   27,800 Dec. 11   net loss
XL Capital Bermuda   750,000 Sept. 13 Oct. 23 (up) pretax claims; gross loss $1.8B
Yasuda Fire & Marine Ins. Co. Ltd. Japan   17,000 Sept. 17   claims payments
Zenith National Insurance Corp. U.S.   35,500 Sept. 14 Oct. 18 (up) pretax losses; $20.1M after-tax
Zurich Financial Services Switzerland 700,000 900,000 Sept. 13 Oct. 8 (up) pretax losses, net of reinsurance

*Previous estimate: St. Paul Cos. $866M
**Source is company release unless noted.

© 2001 American Banker
Compiled by Thomson Financial Insurance Solutions analysts.
For further information contact them at 877-299-9424 or http://us.tfinsurance.com