AIG
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The insurer will move its Atlanta-area assets to a new "innovation hub".
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Based in New York, he joins the firm after seven years as Marsh CFO.
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The executive has resigned from AIG to fill the vacant CEO role at the large corporate unit of the German carrier.
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The insurer said Dellwood’s "spin" isn’t enough to dismiss the litigation.
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Last week, the insurer placed ~450 staff at risk of redundancy in its international business.
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Zaffino said the divested crop and travel businesses needed scale to be more profitable.
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The move is the latest phase of the operational transformation program, AIG Next.
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The PVT market has seen a recent spike in staff movements, as new capacity enters the space.
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Dellwood claims allegations in AIG’s latest filing are still barred by res judicata.
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The impact on AIG’s top line will be around $750mn of net written premium within NA personal lines.
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AIG recorded favorable excess casualty reserve development for AY prior to 2016 of $33mn.
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The Insurance Insider US news team runs you through the earnings results for the day.
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