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Insurers Step Up to Help Tsunami Victims, AIG's Greenberg Gives $2.5 Million

Insurers are coming to the aid of victims in the strife-torn tsunami region of Asia. Maurice Greenberg, chairman of American International Group (AIG), announced the...
January 6, 2005

Insurers are coming to the aid of victims in the strife-torn tsunami region of Asia. Maurice Greenberg, chairman of American International Group (AIG), announced the Starr Foundation, which he also chairs, would donate $2.5 million to disaster recovery and humanitarian efforts in the wake of the December 26 tsunamis that have claimed close to 150,000 lives in the region. Evan Greenberg, president and chief executive officer of Bermuda-based ACE Limited, said the company has established the ACE Tsunami Relief Fund that will match employees' and will also make a "significant contribution" to relief organizations. Allianz Group announced the company would contribute one million Euros ($1.35 million U.S.) to the fund and has dispatched a number of relief teams, including a medical team sent to Phuket, Thailand, which was damaged by the tsunami. Allianz is the parent company of Fireman's Fund Insurance.

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