Evil Alert
From WSJ. Europe's biggest insurer, Allianz AG, warned that its exposure to Hurricane Katrina could be as much as $583.6 million but said it still expects to reach its 2005 profit target of $4.9 billion. The Munich-based company said Katrina could be the costliest natural disaster in the insurance industry's history.
So that's a loss of around $600 million dollars. The biggest loss in the history of the industry, but it will NOT affect ONE YEAR'S!! profit margin of $5 billion dollars.
Insurance has got to be the one industry that can give lessons in wholly unhinged avarice to OPEC, Exxon, and the U.S. Congress.
So that's a loss of around $600 million dollars. The biggest loss in the history of the industry, but it will NOT affect ONE YEAR'S!! profit margin of $5 billion dollars.
Insurance has got to be the one industry that can give lessons in wholly unhinged avarice to OPEC, Exxon, and the U.S. Congress.
posted by JCH | 8:23 AM
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