AIG

AIG “remains in a strong financial position” despite the pandemic, the executive said.

Last night featured the most significant “jailbreak” to date, with AIG taking the opportunity to drop its long-term ROE goal.

AIG will recognise an impairment charge of $210mn in connection with shutting down the InsurTech.

AIG will report earnings tonight and face investors tomorrow, and we see big strategic questions hanging over it on (a) AIG 200, (b) its capital allocation strategy and (c) its market sensitivity.

City comptroller Scott Stringer said AIG, BHSI and Liberty Mutual should stop underwriting and investing in coal.

Among the biggest gainers was Fairfax Financial, which jumped by nearly 10 percent.

Insurance stocks outperformed as Federal Reserve agreed to take further action and lawmakers mulled a pandemic backstop.

(Re)insurance shares in Europe also outperform market indices after a strong day for US brokers yesterday.

The mid-market commercial insurer also gains authorisation in Washington State.

The S&P 500 insurance industry index rose by 2.8 percent as lawmakers neared a vote on a coronavirus economic relief package.

George Williams joins the reinsurance broker as global head of client support services.

AIG gains 19 percent, outstripping a 12 percent increase on the S&P 500 insurance industry index.