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Argo pays out on Carrie Fisher policy

Legacy star: an insurance policy estimated at $50 million was triggered when actress Carrie Fisher died in December before completing the final Star Wars sequel trilogy film, Episode IX (Photograph by Riccardo Ghilardi)

When Star Wars actress Carrie Fisher died in December, it triggered what is thought to be the largest single personal accident insurance claim payout ever.

And among the more than 20 carriers that jointly covered Disney’s insurance policy on Ms Fisher, was Bermudian-based Argo Group International Holdings.

The specialty insurer and reinsurer has offices on Pitts Bay Road, and is known for identifying and insuring risks that other traditional underwriters do not insure.

Argo’s stake in the insurance policy covering Ms Fisher was highlighted in a report in the San Antonio Express-News.

Film company Disney took out contract protection, estimated to be $50 million, on Ms Fisher in case she was not able to fulfil her obligations to appear in all the Star Wars trilogy sequel films.

A number of Lloyd’s of London insurers took a stake in the risk contingency policy, which was underwritten by New Jersey-based Exceptional Risk Advisers. According to a report by The Insurance Insider, Atrium, a subsidiary of island-based Enstar Group, was the lead in the facility.

As a legacy star of the original Star Wars trilogy, where she played the role of Princess Leia, Ms Fisher appeared in Star Wars Episode VII: The Force Awakens, the first of the new trilogy. The film was released in 2015 and took $2.07 billion at the box office, becoming the third most financially successful film of all time.

Ms Fisher also completed filming of the follow up Star Wars Episode VIII: The Last Jedi, set for release later this year.

She was due to star in the final film of the sequel trilogy, Star Wars Episode IX, but died in December a few days after suffering a heart attack on a flight from London to Los Angeles. Filming of the still untitled Episode IX, has not started. The film is due to be released in May 2019.