American International Group said it will invest $1.3 billion over the next three years in its massive AIG 200 initiative, which is designed to revamp and improve core processes, technology infrastructure and services. The company has broken down the effort …
American International Group reported fourth quarter 2019 net income of $922 million compared to a net loss of $622 million in the prior-year quarter. The results reflected improvement in its closely-watched General Insurance (property/casualty) division where the insurer posted an …
Catastrophe losses prevented American International Group from having a third quarter in a row of property/casualty underwriting profit this year, following many years of losses. AIG said that its General Insurance unit (property/casualty) generated $249 million in underwriting losses for …
AIG President and CEO Brian Duperreault said that the evolving, hardening market is sustainable and dovetailing nicely with the insurer’s ongoing efforts to shed excessively risky business. He also announced that AIG will be investing in operational improvements with a …
Insurer American International Group Inc. reported first-quarter earnings that trounced Wall Street estimates on Monday, as its general insurance business posted its first underwriting profit since the financial crisis. Shares of the company rose more than 6 percent after Chief …
