No. 34



ARIG Announces 232% Rise In 1H Losses To $15.6Mn

Arab Insurance Group (ARIG) on 15 August announced a net loss of $15.6mn for the first half of 2000 a 232% rise over the previous years net loss of $4.7mn for the same period. Extremely unfavorable reinsurance market conditions over the last few years have carried over into 2000, a press statement said.

With 1999 turning out to be one of the worst years on record for the frequency of natural disasters,...