Laying off highly paid executives, buying back stock, selling off units. Does not anybody see the 600 pound gorilla in the room? Poor underwriting results? What are they doing to correct that? With a huge property/casualty insurance operation that accounts for about 80% of the results and is the easiest thing to control. Easier to control that interest or return earned on investments. And much ore effective than cutting salary expense which pales in comparison to loss expenses.
Holy Toledo! AIG sure has a lot going on.
Laying off highly paid executives, buying back stock, selling off units. Does not anybody see the 600 pound gorilla in the room? Poor underwriting results? What are they doing to correct that? With a huge property/casualty insurance operation that accounts for about 80% of the results and is the easiest thing to control. Easier to control that interest or return earned on investments. And much ore effective than cutting salary expense which pales in comparison to loss expenses.