Candle factory tornado loss of $50mn will hit AIG, Swiss Re and Everest
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Candle factory tornado loss of $50mn will hit AIG, Swiss Re and Everest

James Thaler
December 20, 2021
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A drone picture of the Mayfield Consumer Products candle factory in the aftermath of a tornado in Mayfield, Kentucky, U.S. December 15, 2021. Picture taken with a drone. REUTERS/Adrees Latif
Photo: Alamy Stock Photo

The Mayfield Consumer Products candle factory destroyed by the quad-state tornado is expected to generate a $50mn full-limit loss, and receive payouts from a group of insurance companies that includes AIG’s Lexington unit, Everest Re, and Swiss Re, this publication understands.

Other insurers on the program are understood to include Hallmark Specialty. Sources have estimated the impacted location was made up of about $30mn to $40mn in total insured value, but that when additional costs are factored in, the loss...

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