AIG
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AIG sees improvement from tightened underwriting, though value creation has yet to catch up.
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The carrier reported an E&S property slowdown but “massive” submission activity in casualty.
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The Insurance Insider US news team runs you through the earnings results for the day.
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North America commercial lines' adjusted NWP grew 4% YoY on higher rates and new business.
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The executive is to step back for personal reasons.
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The group is looking to realize $500mn of run-rate savings through AIG Next.
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The global insurer also alleges breach of contract and fiduciary duty in the federal suit.
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As admitted carriers pull out of riskier plays, E&S continues to expand and thrive.
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Glatfelter CEO Chris Flatt will become interim chief executive.
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A review of commercial lines loss picks for AIG vs the industry
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Ross Bowie joins the MGA after serving as CUO at Orchid Insurance for two years.
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For 2016 and 2017, in particular, the loss picks were raised to 91% and 96%, respectively.
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Its property cat aggregate cover renewed with improved coverage.
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Insurance Insider US runs you through the earnings results for the day.
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NA commercial lines Q4 CoR increased 0.7 points to 85.1%.
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Chris Inglis served as the first US Senate-confirmed national cyber director.
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Between 2009 and 2012, Therese Vaughan served as CEO at NAIC.
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The upgrade recognizes improving operating performance.
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His last day will be December 2023, according to an internal memo seen by this publication.
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Sources said the executive will join Mitsui Sumitomo in a leadership position based in Brazil.
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James Dunne is vice chairman and senior managing principal of investment bank Piper Sandler.
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AIG offered 35 million existing shares of Corebridge common stock priced at $20.50 per share Friday, out of 630 million total shares outstanding.
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The executive will oversee AIG’s global technology and cybersecurity strategy and lead the insurer’s cloud strategy, along with other modernization technologies.
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The low multiple shapes the decision set of the management team, negatively impacts staff, and creates potential opportunities for rivals.