Accusing AIG of price slashing is wrong. The price slashing is coming out of the London market who are cutting the guts out of premiums and providing free covers in order to get market share for when the market turns.
Good luck to them – fingers crossed for the underwriters who are putting their names to it – they will get the call when the claims roll in.
Gutless is the only word that comes to mind. Two well compensated AIG executives bolt when the times get tough. So much for the loyalty for all the workers at Lexington that actually did the work for these guys to be successful. These two guys are likely financially set for life and if they had any integrity, they would have stayed at Lexington in these tough times and act like real leaders, not gutless turncoats.
Gutless? It’s more likely that they KNOW what the rest of us only speculate about. The future of AIG is not assured. Expect to see more departures and expect to see more nasty surprises about what AIG has been hiding all along. This isn’t the bottom.
Loyalty at AIG? Are you kidding or what? They steal accounts on price that is now being subsidized by the Feds, and you’re heartbroken that management bolts? What goes around comes around
Fred – are you kidding or what? Kelly was very well respected. So much so he was “promoted” to run all of AIG’s Personal Lines Business. Shortly after he, and everyone, finds out AIG ran itself into the groud. Feds move in and Liddy declares Personal Lines will be sold. Kelly and other senior execs see their stock values drop to practically nothing, so much for retirment planning. He found another career oppotuntiy and jumped off a sinking ship. Good for him! Who is next? Call the coast guard, this ship is sunk!
I worked with Kevin a long time before he went up the ladder with Lex. I cannot believe anyone could accuse him of taking the easy way out.
He stayed a lot longer than most people.
If you don’t think Lex/AIG was doing price slashing on the Prof Liab lines, you’ve had your head buried in the sand. It’s been going on for years and years. Their competitors on PL lines have been waiting for the time when they’d have to pay the piper…the time has come.
AIG has been undercutting the industry for years. To blame it on London is rather creative. Too bad AIG couldn’t be creative earlier rather than driving the market into the ground.
Accusing AIG of price slashing is wrong. The price slashing is coming out of the London market who are cutting the guts out of premiums and providing free covers in order to get market share for when the market turns.
Good luck to them – fingers crossed for the underwriters who are putting their names to it – they will get the call when the claims roll in.
Gutless is the only word that comes to mind. Two well compensated AIG executives bolt when the times get tough. So much for the loyalty for all the workers at Lexington that actually did the work for these guys to be successful. These two guys are likely financially set for life and if they had any integrity, they would have stayed at Lexington in these tough times and act like real leaders, not gutless turncoats.
Gutless? It’s more likely that they KNOW what the rest of us only speculate about. The future of AIG is not assured. Expect to see more departures and expect to see more nasty surprises about what AIG has been hiding all along. This isn’t the bottom.
Loyalty at AIG? Are you kidding or what? They steal accounts on price that is now being subsidized by the Feds, and you’re heartbroken that management bolts? What goes around comes around
Pschard.
But then again, I am gutless too. I have no room to talk.
Speak for yourself Quick, Quick 2.
Quick Quick 1 has been on the receiving end of Lexington’s shoddy pricing practices. Gutless? No. Disgusted, yes.
Fred – are you kidding or what? Kelly was very well respected. So much so he was “promoted” to run all of AIG’s Personal Lines Business. Shortly after he, and everyone, finds out AIG ran itself into the groud. Feds move in and Liddy declares Personal Lines will be sold. Kelly and other senior execs see their stock values drop to practically nothing, so much for retirment planning. He found another career oppotuntiy and jumped off a sinking ship. Good for him! Who is next? Call the coast guard, this ship is sunk!
I apologize for my comments earlier. I’m not disgusted with Lexington anymore. On second thought I like Lexington.
And Quick Quick 2, stop copying me.
I worked with Kevin a long time before he went up the ladder with Lex. I cannot believe anyone could accuse him of taking the easy way out.
He stayed a lot longer than most people.
Very classy, I would say.
HHS
Did anyone read the IJ yesterday? This was reported yesterday
Also Lexington is under the commercial lines division of AIG not personal.
I guess the IJ couldn’t find anything else to put here to get us all excited so close to the holidays.
If you don’t think Lex/AIG was doing price slashing on the Prof Liab lines, you’ve had your head buried in the sand. It’s been going on for years and years. Their competitors on PL lines have been waiting for the time when they’d have to pay the piper…the time has come.
AIG has been undercutting the industry for years. To blame it on London is rather creative. Too bad AIG couldn’t be creative earlier rather than driving the market into the ground.