Some property/casualty insurers talk about experimenting with artificial intelligence to automate call center responses and back-office operations. But that’s not the road to turbocharging growth that AIG CEO Peter Zaffino envisions for his company. AIG is all-in on AI that …
American International Group CEO Peter Zaffino used the insurer’s fourth quarter earnings call to again talk about reinsurance attachments points, throwing in the possibility 2025 could be the year for $200 billion in insured catastrophe losses. “This could recalibrate the …
American International Group reported fourth quarter 2024 net income of $898 million compared to $86 million the prior year, but insurance underwriting income was down 29% on high catastrophe losses. AIG said the dramatic increase in income for the quarter …
American International Group (AIG) said it is organizing into three segments and Jon Hancock will lead two of them. Hancock will continue to lead AIG’s international commercial business and will also take on leadership of the newly formed global personal …
American International Group (AIG) said Christopher Flatt, currently head of AIG North America alternative channels, has been named global chief underwriting officer, effective immediately. Flatt also held the the position of interim CEO of managing general underwriter Private Client Select …
American International Group announced it has led the launch of a new reinsurance syndicate at Lloyd’s. Commencing underwriting from Jan. 1, 2025, Syndicate 2478 will be a multi-year participant on AIG’s outwards reinsurance program. The syndicate, which will be managed …
Zurich Insurance Group said Tuesday its acquisition of American International Group’s global personal travel insurance business is complete. Zurich said the acquisition of AIG’s personal travel insurance and assistance business, including Travel Guard, for $600 million makes it one of …
American International Group CEO Peter Zaffino said he expects the reinsurance market’s attachment points to remain on top of losses generated by the frequency and severity of natural catastrophes. Losses will instead continue to be absorbed by primary insurance companies, …
American International Group saw third quarter underwriting income in its general insurance segment fall 28% to $437 million due to higher catastrophe losses and lower favorable development on prior year reserves. The insurer’s third quarter net income attributable to common …
Aircraft lessor Dubai Aerospace Enterprise (DAE) has secured a settlement with insurer AXA over jets retained in Russia since the 2022 invasion of Ukraine, raising the prospect of further deals as a London High Court “mega trial” kicked off. Alistair …
