Insurance firms deny Chevron's $57 million claim for Iran oil seizure [Yahoo! Finance]
American Financial Group, Inc. (AFG)
Last american financial group, inc. earnings: 2/3 05:01 pm
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Source: Yahoo! Finance
The Chevron-chartered tanker Advantage Sweet was boarded by Iranian military in the Gulf of Oman in April 2023 and its crude oil cargo confiscated and later transferred to an Iranian vessel. Zurich American Insurance, Liberty Mutual Insurance and Great American Insurance asked a U.S. District Court in San Francisco to uphold their rejection of Chevron's $57 million claim that includes interest on the loss. The oil seizure was not covered under either Chevron's marine cargo or war risks policies, the trio said in their complaint. Chevron did not immediately reply to a request for comment. "The seizure of the crude oil and its later expropriation by Iran do not constitute 'warlike operations,'" the companies said of their denial of war risks coverage. The cargo also was not covered under marine cargo policy because that policy did not cover a seizure or confiscation "whether in time of peace or war and whether lawful or otherwise," the complaint said. Chevron chartered the
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AFG
News
- Implied Volatility Surging for American Financial (AFG) Stock Options [Yahoo! Finance]Yahoo! Finance
- OpenRoad Announces Entry into Collector Vehicle Insurance Market [Yahoo! Finance]Yahoo! Finance
- Insurance firms deny Chevron's $57 million claim for Iran oil seizure [Reuters]Reuters
- American Financial Group, Inc. (NYSE: AFG) had its price target raised by analysts at Piper Sandler from $129.00 to $135.00. They now have a "neutral" rating on the stock.MarketBeat
- Investors in American Financial Group (NYSE:AFG) have seen impressive returns of 104% over the past five years [Yahoo! Finance]Yahoo! Finance
AFG
Earnings
- 5/1/24 - Miss
AFG
Sec Filings
- 5/8/24 - Form 13F-HR
- 5/3/24 - Form 10-Q
- 5/2/24 - Form 8-K
- AFG's page on the SEC website