Europe’s largest insurer Allianz has added $750m to its US general insurance business to strengthen its reserves after a review by external actuaries warned about increasing asbestos claims in the US.
Allianz is the latest insurer to strengthen its reserves because of asbestos.
This year Royal & Sun Alliance and Munich Re have both pumped millions of pounds into their reserves to cover higher claims.
Financial Times 14/09/02 page 15, Daily Telegraph 14/09/02 page 31, The Times Business 14/09/02 page 50, The Independent 14/09/02 page 21
