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Volkswagen’s cargo ship fire losses to be at least $155 million: Russel Group

by AIP Online Bureau | Feb 22, 2022 | International News, Non-Life, Reinsurance

Of the roughly $438 million total value of goods aboard the Felicity Ace, which went up in flames off the coast of Portugal’s Azores Islands,Russell Group said Monday it estimates there are $401 million worth of cars. The consultant estimates auto companies other than...

Cargo ship with Lamborghinis, Porsches, Audis aboard drifts in Atlantic

by AIP Online Bureau | Feb 18, 2022 | Disaster & Management, International News, Non-Life, Reinsurance

An internal email from Volkswagen’s U.S. operations revealed there were 3,965 Volkswagen AG vehicles aboard the ship. Headquartered in Wolfsburg, Germany, the group manufactures its Volkswagen brand, as well as Porsche, Audi, and Lamborghini- all of which were...
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