Insight and Intelligence on the Global Facultative Markets

5 February 2012

Careless whispers

23 March 2010

Walmart woes for Chartis

Poor old AIG, whose property and casualty operation Chartis has suffered some pretty bad luck on the Chilean earthquake, so we understand.

This all relates to US retail giant Walmart's property programme, which Chartis leads. Until recently it didn't have any exposures in Chile, but that changed with the acquisition of a majority stake in Distribución y Servicio (D&S), Chile's leading food retailer, last year.

Apparently, Chartis recently agreed to cover the estimated $3bn in extra...

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