While U.S. commercial lines insurance had been a relatively bright spot among property/casualty insurers, the sector is facing some clear deterioration due to weakening premiums and poor loss experience. What’s more, Amercian International Group (AIG) alone is to blame for …
Despite American International Group’s poor 2016 fourth quarter earnings performance, Fitch Ratings and Standard & Poor’s both have affirmed the insurer’s ratings, with a few qualifiers slipped in. The struggling insurance giant lost $3.0 billion, or $2.96 per share, compared …
American International Group Inc. posted its fourth loss in six quarters, burned again by higher-than-expected claims costs as Chief Executive Officer Peter Hancock struggles to sustain profitability. The net loss widened to $3.04 billion, or $2.96 a share, from a …
Allstate ended 2016 with a solid profit thanks to premium hikes and tighter underwriting, despite a $853 million jump in catastrophe losses over the previous year. The property/casualty insurer ended up with more than $2.5 billion in catastrophe losses for …
American International Group Inc.’s assurances of underwriting progress are drawing increased skepticism from Wall Street analysts after another disappointing quarter. Results from international commercial coverage and the American consumer business were short of estimates, “and this isn’t the first time …
American International Group Inc. posted profit that fell short of Wall Street estimates as costs swelled on contracts in which the insurer guarantees payments to accident victims. Third-quarter net income of $462 million, or 42 cents a share, compares with …
American International Group Inc., the largest commercial insurer in the United States and Canada, reported an operating profit that beat analysts’ estimate, driven by lower costs and strong underwriting during the quarter. Shares of the company, whose board also authorized …
The American International Group Inc. chief executive officer has posted three straight quarterly losses and will probably report Tuesday that profit in the three months ended June 30 fell 32 percent, according to analysts surveyed by Bloomberg. Hancock has presided …
American International Group Inc., the insurer burned by losses on hedge funds, has submitted notices of redemption for $4.1 billion of those holdings through the end of the first quarter. “As of today, we have received $1.2 billion of proceeds …
American International Group Inc., the insurer that’s shrinking under pressure from activist shareholders, posted a third-straight unprofitable quarter on losses from hedge funds and declines in the value of other investments. The first-quarter net loss of $183 million, or 16 …
