In Q4, the general insurance (GI) segment’s combined ratio (CoR) rose 3.3 points to 92.5% on a comparable basis as a result of elevated catastrophe losses partly offset by higher favorable reserve development.
Overall,
AIG ends FY2024 with 91.8% CoR, expects $500mn in CA losses
The carrier reshaped its portfolio in 2024, cutting costs and investing in Gen AI and LLM technology, CEO Peter Zaffino told staff.