Wednesday, 23 August 2017

AIG reveals Grenfell Tower exposure

AIG reveals Grenfell Tower exposure, but unable to quantify likely claims

AIG may face claims costs from the Grenfell Tower fire that killed more than 80 people in West London in June.

AIG reveals Grenfell Tower exposure In its 10Q quarterly regulatory filing with the US Securities and Exchange Commission. The US insurer revealed that it may face claims from the disaster, but it cannot yet estimate the extent of any exposure.

“Our net exposure to loss on this event is currently not estimable as the forensic investigation is incomplete and the list of potential insureds (and any potential liability) is unclear” AIG said, adding that, “There may also be other policyholders involved as the matter evolves.”

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