Chartis COR hits 119% in Q1 as insurer is hit by $1.7bn cat costs
Chartis, the non-life division of AIG, has reported a first quarter operating loss before net realized capital gains of $463 m, reflecting $1.7bn of Catastrophe losses comprised of $1.3bn for the Japan earthquake and tsunami.
This included losses related to the Japan Earthquake Reinsurance Company (JERC), and $0.4bn in non-Japan related catastrophe events, including the New Zealand earthquake and Australian floods
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