Insurance Company Exposure to Terrorist Attacks in United States

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Insurance Company Exposure to Terrorist Attacks in United States
Insurance Company Exposure to
Terrorist Attacks in United States

Updated Oct. 11, dollars in thousands - Published October 17, 2001

Company 

Country 

Low Estimate

High Estimate

Original Date 

Restated Date 

Description 

Source 

Ace Ltd. Bermuda   $550,000 Sept. 12 Sept. 24 (up) after-tax losses company release
Aegon Netherlands   50,000 Sept. 19   pretax claims costs company release
Aetna Inc. U.S. $10,000 15,000 Sept. 17   pretax losses company release
Alleghany Corp. U.S.   112,000 Sept. 28   pretax losses net of reinsurance company release
Allianz Germany   920,000 Sept. 12 Sept. 24 (up) in claims company release
Allmerica Financial Corp. U.S.   17,000 Sept. 19   pretax losses Reuters
Ambac U.S. 6,000 10,000 Sept. 18   unrealized loss company release
American Financial Group Inc. U.S.   20,000 Sept. 19   net pretax losses company release
American International Group U.S.   800,000 Sept. 13 Oct. 9 (up)* pretax losses company release
Amlin PLC U.K.   65,784 Sept. 18   in claims Bloomberg
Annuity & Life Re (Holdings) U.S. 5,000 7,000 Sept. 28   exposure company release
Aon Corp. U.S. 50,000 55,000 Sept. 17   pretax losses Reuters
Argonaut Group Inc. U.S.   10,000 Sept. 20   net losses company release
Atrium Underwriting U.K.   11,737 Sept. 23   pretax loss company release
Axa France   550,000 Sept. 13 Sept. 21 (up) pretax losses company release
Baldwin & Lyons U.S.   20,000 Sept. 21   pretax losses company release
Berkshire Hathaway U.S.   2,200,000 Sept. 20   3%-5% estimated industry losses company release
Brit Insurance Holdings PLC U.K.   101,985 Sept. 21   pretax net losses company release
Canada Life Assurance Co. Canada   9,500 Sept. 27   after-tax loss company release
CGNU PLC U.K.   51,500 Sept. 17   net losses BBC News
Chaucer Holdings PLC U.K. 12,000 18,000 Sept. 20   pretax losses Reuters
Chubb Corp. U.S. 500,000 600,000 Sept. 11 Sept. 24 (up) pretax losses company release
Cigna Corp. U.S.   25,000 Oct. 1   after-tax losses from claims company release
Citigroup Inc. U.S.   500,000 Sept. 17   after-tax net loss company release
Clarica Canada   33,750 Sept. 17   pretax losses company release
CNA Financial Corp. U.S. 200,000 350,000 Sept. 14   pretax losses company release
Conseco Inc. U.S.   5,000 Sept. 17   pretax losses company release
Copenhagen Re Denmark 18,583 43,361 Oct. 2   losses company release
Cox Insurance Holdings PLC U.K.   62,031 Sept. 28   claims company release
Delphi Financial Group Inc. U.S. 1,500 2,500 Sept. 17   after-tax net loss company release
Employers Re U.S.   600,000 Sept. 14   pretax losses company release
Erie Indemnity Co. U.S. 100,000 150,000 Sept. 25 Sept. 27 primary insurance and reinsurance company release
ESG Re Ltd. Bermuda   1,000 Sept. 17   gross before reinsurance company release
Everest Re Ltd. U.S.   75,000 Sept. 16   after-tax net loss company release
Factory Mutual Insurance (FM Global) U.S.   250,000 Sept. 20   net pretax losses, after reinsurance company release
Fairfax Financial Holdings Ltd. Canada 100,000 125,000 Sept. 14   pretax exposure Reuters
Fortis Ltd. Belgium   18,342 Sept. 24   net losses company release
Generali Italy   20,000 Sept. 17 Sept. 21 (up) claims payments Reuters
Gerling Global Re Germany 201,473 247,269 Sept. 26   pretax loss company release
Goshawk Insurance U.K.   12,000 Sept. 28   net claims company release
Great West Life Assurance Canada   52,000 Sept. 27   net losses company release
Hannover Re Germany   364,000 Sept. 13   claims payments company release
Harleysville Group Inc. U.S.   3,600 Sept. 19   pretax losses company release
Hartford Financial Services Group Inc. U.S.   450,000 Sept. 18   after-tax net loss company release
HCC Insurance Holdings Inc. U.S.   30,000 Oct. 9   pretax net loss company release
Highland Insurance Group Inc. U.S.   2,000 Oct. 2   losses company release
Hiscox PLC U.K.   29,000 Sept. 25   net losses company release
ING Group Netherlands   46,362 Sept. 18   pretax losses company release
IPC Holdings Ltd. Bermuda   75,000 Sept. 14   losses company release
Kemper Insurance Cos. U.S. 60,000 80,000 Sept. 19   net pretax losses company release

Company 

Country 

Low Estimate

High Estimate

Original Date 

Restated Date 

Description 

Source 

Kiln PLC U.K.   65,300 Oct. 8   net losses, net of reinsurance company release
Liberty Mutual Group U.S. 200,000 300,000 Sept. 18   after-tax net loss, after reinsurance company release
Lincoln National Corp. U.S.   50,000 Sept. 14   claims payments company release
Lloyds of London U.K.   1,900,000 Sept. 26   net exposure company release
Manulife Financial Corp. Canada   65,000 Sept. 13   claims payments Reuters
Markel Corp. U.S.   75,000 Sept. 14   net pretax losses company release
Max Re Capital Ltd. Bermuda   5,000 Sept. 27   gross claims company release
MetLife U.S. 250,000 300,000 Sept. 14   after-tax net loss company release
Munich RE Germany   2,100,000 Sept. 13 Sept. 20 (up) pretax losses CNNfn
Nationwide Mutual Insurance Co. U.S.   10,000 Sept. 19   losses company release
Navigators Group Inc. U.S.   5,000 Sept. 19   after-tax net loss company release
New York Life U.S. 50,000 75,000 Sept. 14   claims payments company release
Nipponkoa Insurance Co. Ltd. Japan   8,420 Sept. 13   claims payments Reuters
Nissay Dowa General Insurance Co. Ltd. Japan   4,210 Sept. 13   claims payments Reuters
Northwestern Mutual Life Insurance Co. U.S.   150,000 Sept. 27 Oct. 9 (down)* claims payments company release
NYMagic Inc. U.S.   9,000 Sept. 19   pretax loss company release
Odyssey Re Holding Bermuda   80,000 Sept. 14   pretax net losses company release
Ohio Casualty Corp. U.S. 5,000 7,000 Sept. 14   pretax cost of claims, net of reinsurance company release
OneBeacon Insurance Group and Folksamerica Re Bermuda   175,000 Sept. 14   pretax losses company release
PartnerRe Ltd. Bermuda 350,000 400,000 Sept. 21   claims payments company release
Philadelphia Consolidated Holding Corp. U.S. 1,500 2,000 Sept. 21   net pretax losses company release
Phoenix Cos. Inc. U.S.   5,000 Sept. 25   pretax losses net of reinsurance company release
PMA Capital Corp. U.S.   30,000 Sept. 18   pretax losses company release
Preserver Group Inc. U.S. 500 700 Sept. 21   after-tax losses company release
Principal Financial Group U.S. 9,000 12,000 Sept. 25   pretax losses net of reinsurance company release
Prudential Financial Inc. U.S. 75,000 125,000 Sept. 17   after taxes, including reinsurance company release
PXRE Group Ltd. Barbados 30,000 35,000 Sept. 14   net losses company release
QBE Insurance Group Ltd. Australia   123,000 Sept. 21   total loss; in Lloyds of London market company release
RenaissanceRe Holdings Ltd. U.S.   50,000 Oct. 2   net losses; gross losses $150 million company release
Royal & Sun Alliance Insurance Group PLC U.K.   290,000 Sept. 13 Oct. 11 (up)* claims payments company release
Safeco Corp U.S.   25,000 Sept. 20   losses, net of reinsurance company release
SCOR Group France 150,000 200,000 Sept. 12   losses BBC News
SCPIE Holdings U.S.   5,000 Sept. 27   pretax exposure Reuters
St. Paul Cos. Inc. U.S.   700,000 Sept. 19   pretax losses Reuters
StanCorp Financial Group Inc. U.S.   6,000 Sept. 17   pretax losses company release
SVB Holdings PLC U.K.   29,242 Sept. 23   in claims Bloomberg
Swiss RE Switzerland   1,258,341 Sept. 12 Sept. 20 (up) after-tax net loss CNNfn
Tokio Marine and Fire Insurance Co. Ltd. Japan   84,180 Sept. 13   claims payments Reuters
Transatlantic Holdings Inc. U.S.   100,000 Sept. 17   after-tax net loss company release
Trenwick Group Ltd. U.K.   100,000 Sept. 14 Oct. 4 (up)* net pretax losses company release
UnumProvident Corp. U.S.   20,000 Sept. 14   claims payments company release
W.R. Berkley Corp. U.S.   25,000 Sept. 14   pretax losses company release
Wellington Underwriting PLC U.K.   73,600 Sept. 14 Oct. 4 (up)* net pretax losses company release
XL Capital Bermuda 600,000 700,000 Sept. 13   claims payments; gross losses $1.8 billion Reuters
Zenith National Insurance Corp. U.S. 7,000 15,000 Sept. 14   pretax losses company release
Zurich Financial Services Switzerland 700,000 900,000 Sept. 13 Oct. 8 (up)* pretax losses, net of reinsurance company release

*Previous estimates for companies restating since Oct. 3: American International $500M; Northwestern Mutual $192M; Royal & Sun Alliance $220M; Trenwick Group $50M-$75M; Wellington Underwriting $43.9M; Zurich Financial Services $400M.

© 2001 American Banker Source: Compiled by Thomson Financial Insurance Solutions analysts.

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