Allied World Says Crop Reinsurance Claims to Cost $40 Million

Allied World Assurance Company Holdings AG, the reinsurer whose co-founders include American International Group Inc. and Chubb Corp., said it will record about $40 million in third-quarter losses tied to crop damage in the U.S.

The cost from Hurricane Isaac will be $5 million to $10 million, the Zug, Switzerland-based insurer said today in a statement distributed by PR Newswire.

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