VOL. XXXI

NO. 42

25-JULY-1988

Financial and Banking News

REGIONAL BANKING

ARIG's Loss from North Sea Disaster Might Rise to $20mn

The Bahrain-based Arab Insurance Group (ARIG) has revealed that its exposureto the North Sea Piper Alpha disaster might be as high as $20mn, the biggestloss in its seven-year history. ARIG, which is the Arab world's biggest insurer, has one of the largest individual lines of the Piper Alpha insurance,accepting insurance and reinsurance on all four of the oil company...