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The Insurance Insider US news team runs you through the earnings results for the day. -
It is targeting low-risk specialty lines where it has a competitive edge.
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The program is set to begin binding this month.
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The company bolstered casualty reserves by $18mn, mostly from discontinued lines.
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The carrier reported an increase of 82% in pre-tax income.
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The move will impact around $50mn of gross written premiums in total.
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Q2 cat losses at AIG declined to $170mn from $330mn in the prior year quarter.
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Price decreases became lower throughout Q2, however, averaging 3% in April, 2.3% in May and 1.6% in June.
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Social inflation is driving non-renewals, while CoRs are up for P&C and casualty.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The executive joins from At-Bay and brings more than 25 years of experience.
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The professional lines market remains ‘challenging’ overall, however.
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