Articles
Insurance
American International Group’s US casualty business has performed significantly worse than expected by the firm in recent years, resulting in a $3 billion loss in the fourth quarter of 2016 as the company reacted by striking a reinsurance deal and significantly increasing claims loss reserves. 17 February 2017
Insurance
American International Group (AIG) reported a net loss of $3.04 billion, up from a negative $1.84 billion in the same period of 2015, impacted by a $5.6 billion prior year adverse reserve development. 15 February 2017
Insurance
Former AIG boss Maurice “Hank” Greenberg has reiterated and reaffirmed publicly that he did absolutely nothing wrong while at the helm of the company. 14 February 2017
Insurance
Berkshire Hathaway Specialty Insurance Company (BHSI) has established a new office in London and filled key leadership roles with former AIG, Allied World, Chubb and Marsh executives. 8 February 2017
Insurance
AM Best has placed the financial strength ratings (FSR) of American International Group (AIG) and its insurance subsidiaries under review with negative implications because of concerns over its reserves. 27 January 2017
Insurance
Berkshire Hathaway’s $9.8 billion retroactive reinsurance deal with American International Group’s (AIG), revealed last week, is big enough to potentially jeopardize an underwriting profit in Warren Buffett’s reinsurer’s P&C operations for the first time. 26 January 2017
Insurance
American International Group’s (AIG) $9.8 billion reinsurance deal with Berkshire Hathaway covering US commercial long-tail exposures for accident years 2015 and prior comes at a “significant” cost for AIG but should offer improved earnings stability, according to analysts at CreditSights. 23 January 2017
Insurance
If ultimate losses remain unchanged, Berkshire Hathaway will net a gain of around $2.6 billion plus the float in its $9.8 billion US casualty reinsurance agreement with American International Group (AIG), analysts at CreditSights writing in a January 20 note. 23 January 2017
Insurance
American International Group (AIG) entered into an adverse development reinsurance agreement with National Indemnity Company (NICO), a subsidiary of Berkshire Hathaway. 20 January 2017
Insurance
Crawford & Company, a provider of claims management solutions, has appointed Geoff Piggot the new chief executive officer (CEO) of its global technical services (GTS) division. 18 January 2017
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