Keyword
NICO
Commercial premiums down 15% for AIG
August 3, 2017 by Canadian UnderwriterAmerican International Group Inc. reported Wednesday its net income was $1.13 billion during the three months ending June 30 and its Q2 combined ratio in personal insurance improved 5.9 points from last year, but the combined ratio in commercial insurance…
Nuclear energy producers, alcohol manufacturers excluded from new AIG mutual fund
May 19, 2017 by Canadian UnderwriterInvestors wanting to keep their money out of nuclear energy, the arms industry or alcohol manufacturers are being targetted by American International Group Inc., which announced Thursday it is marketing a new dividend mutual fund. New York City-based AIG announced…
Q1 insurance premiums up 95% at Berkshire Hathaway after adverse development reinsurance agreement with AIG
May 8, 2017 by Canadian UnderwriterBerkshire Hathaway Inc. announced Friday it recorded insurance premiums earned of $21.7 billion during the three months ending March 31 – up 95% from $11.1 billion in Q1 2016 -while Cyclone Debbie affected the Omaha, Neb.-based firm’s underwriting result by…
AIG sees net loss of about US$3 billion in 2016 Q4
February 15, 2017 by Canadian UnderwriterAmerican International Group, Inc. (AIG) has posted net losses for both the full year and the fourth quarter of 2016, but company president and CEO Peter Hancock reports that actions taken last year will help “dramatically reduce uncertainty and deliver…
AIG, National Indemnity ink reinsurance agreement covering long-tail prior-year commercial casualty
January 20, 2017 by Canadian UnderwriterAmerican International Group Inc. said Friday it “expects a material prior year adverse development charge” during the three months ending Dec. 31, 2016 and that National Indemnity Company (NICO) has agreed to reinsure 80% of losses on certain reserves for…