AIG to offer HNW homeowners’ coverage through E&S in ‘multiple states’
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AIG to offer HNW homeowners’ coverage through E&S in ‘multiple states’

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AIG will offer its high-net-worth (HNW) homeowners' product through excess and surplus (E&S) lines on a non-admitted basis in multiple states to address the profitability issues of the class, CEO Peter Zaffino told analysts during a Q4 earnings call.

One business that needs “strategic repositioning is our high-net-worth property portfolio”, Zaffino noted.

“The inability to reflect emerging risk factors, the effects of changes to modeling, [and] increased loss costs from cats have put the profitability of the business under...

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