Canadian Underwriter

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Peter Hancock

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Commercial premiums down 15% for AIG

August 3, 2017 by Canadian Underwriter

American 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

News InsuranceMarkets / Coverages

Nuclear energy producers, alcohol manufacturers excluded from new AIG mutual fund

May 19, 2017 by Canadian Underwriter

Investors 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

News AppointmentsInsuranceProfessional DevelopmentReinsurance

Former Marsh & McLennan CEO Duperreault replaces Hancock as CEO of AIG

May 15, 2017 by Canadian Underwriter

American International Group Inc. has a new chief executive officer, Brian Duperreault, as of Sunday, the New York City-based insurer announced. Duperreault (pictured right), a former CEO of Marsh & McLennan Companies Inc., is now also president and director of

News InsuranceMarkets / CoveragesProfessional Development

Peter Hancock to resign as president and CEO of AIG, lack of shareholder support cited

March 9, 2017 by Canadian Underwriter

American International Group (AIG) announced on Thursday that its president and CEO, Peter D. Hancock, has informed the board of directors of his intention to resign, citing lack of shareholder support. As part of the transition plan, Hancock will remain

News CatastrophesClimate ChangeEarnings / RatingsInsuranceMergers and Aqcuisitions

AIG sees net loss of about US$3 billion in 2016 Q4

February 15, 2017 by Canadian Underwriter

American 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

News InsuranceLegislation / RegulationMarkets / CoveragesMergers and AqcuisitionsReinsurance

AIG, National Indemnity ink reinsurance agreement covering long-tail prior-year commercial casualty

January 20, 2017 by Canadian Underwriter

American 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

News CatastrophesEarnings / RatingsInsuranceMergers and AqcuisitionsReinsuranceTechnology

AIG reaches agreement to sell United Guaranty Corporation to Arch Capital for US$3.4 billion

August 17, 2016 by Canadian Underwriter

American International Group, Inc. has entered into an agreement to sell its 100% interest in United Guaranty Corporation (UGC) to Arch Capital Group Ltd. for US$3.4 billion, a move in line with AIG’s continuing efforts to streamline operations and better