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25 February 2018

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AIG leads $250mn-$350mn Sohar loss

Bernard Goyder 7 December 2017

AIG is the lead reinsurer on one of the largest losses in the Middle East this year, from an Omani aluminium factory that caught fire in August, The Insurance Insider can reveal.

While the exact cost to the insurance market is not known, given the significant component of business interruption insurance, Sohar Aluminium is expected to be paid between $250mn and $350mn for the claim, sources said.

It is understood that AIG has already accepted liability and made a payment...

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