AIG
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Are this quarter’s positive results a sign of change for the company or a temporary blip? -
Rates in the P&C market continued to rise in the third quarter, with outsized increases for cyber insurance driving up the average change, according to data revealed in company third-quarter conference calls.
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AIG’s CEO Peter Zaffino said Friday the insurer’s life & retirement IPO plans are progressing, but may be pushed back to 2Q 2022.
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The carrier has $175mn remaining in its aggregate retention and is expecting limited catastrophe losses during Q4 given their treaty cover.
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The insurer grew GI net premiums by 11%, led by 17% growth in its commercial business.
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The role changes will take effect on January 1, with both men continuing to report to group CEO Peter Zaffino.
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The executive was serving as northeast zone manager for commercial D&O, private and non-profit management liability since last May.
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In a virtual fireside chat with Aon CEO Greg Case, AIG’s CEO spoke candidly about the work the carrier’s management team had to put in to fix its underwriting results.
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AM Best estimates that the loss of the life and retirement segment’s profitability will be offset by an increase in available capital and liquidity.
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By moving a business from AIG's ecosystem into Coalition's, the perception of its value is transformed.
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Brooks had been in his post for almost two years and joined AlphaCat in 2011.
