Market Overview

Nearly $700 Million USD Paid by NAGICO to Insureds in the Caribbean Thus Far


The US$58.2 Million Princess Juliana International Airport judgment
fully paid by NAGICO

National General Insurance Corp N.V. (NAGICO), a diversified insurance
company serving 21 territories in the Caribbean, has over the past 12
months paid nearly $700 Million US Dollars to its clients in the islands
that were affected by hurricanes Irma and Maria in September 2017. The
Princess Juliana International Airport ("PJIA") is among the many NAGICO
clients that have been paid. A total of USD$58.2 Million was paid to the
International Airport for damages sustained.

Mr. Daryanani said, "PJIA is happy that NAGICO has honored its
obligations and we are pleased that they have completed payment well
before the agreed time."

"We are pleased to have paid nearly $700 Million US Dollars and settled
nearly 95% of the 14,000 claims received across the region related to
hurricane damage sustained. It is very positive to see the economic
recovery and rebuilding in process. Our team continues to work hard
toward the fair resolution of all remaining claims," said NAGICO Chief
Executive Officer Dwayne Elgin.

NAGICO Chairman Imran McSood Amjad stated, "This is most likely the
largest pay-out the region has seen by any single insurer in any one
catastrophe year and we are proud to be a leader in this regard. The
NAGICO Group remains a financially sound institution and it will Always
be There for the Caribbean region."

Founded in 1982, the NAGICO Group provides a variety of property,
casualty as well as life and health products and risk solutions to its
customers throughout the Caribbean. The company has a capital adequacy
rated at the Strongest Level as per AM Best's Capital Adequacy Rating
Guidelines. Headquartered in Philipsburg, Sint Maarten, the Company is
ranked the number one insurer on the island.

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