Allianz could be liable for dam burst-related losses

Germany-based insurer Allianz S.E. may have to cover some of the costs related to the dam burst at the Corrego do Feijao mine in Brazil, Reuters reported citing sources. Allianz Global Corporate and Specialty S.E. leads a consortium of reinsurers that cover some risks from miner Vale S.A.'s local insurers, the sources said. The dam ruptured on Jan. 25, triggering a mudslide which killed 60 people and buried mining facilities.

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