AIG

Pre-adverse development cover, the carrier saw impact from directors’ and officers’ and mergers and acquisitions-related business.

The insurer said it had shaved about 7 percent off overall reinsurance costs.

The carrier cut gross limits for the class of business by $40bn during the quarter.

We revisit key issues at stake at a crucial point of AIG's operating turnaround.

According to sources, AIG underwriters globally have been told not to write new construction risks in Latin America.

AIG's head of global specialty business Peter Bilsby has left his post and will be replaced on an interim basis by global head of energy and construction Gordon Browne.

AIG’s decision to exit the surety market illustrates that the re-underwriting wheels continue to turn at the carrier as it looks to dampen underwriting volatility and move away from its previous “large-limits strategy”.

Sources said Island Express Helicopters holds a $50mn hull and liability insurance policy.

The AIG executive urged carriers to be "part of the solution" and help customers transition to cleaner energy.

The Asia Pacific CEO’s departure from the general insurance division follows the exit of Chris Townsend earlier this month.

Speculation linking AIG with a bid for Voya highlights the competing operating and capital allocation challenges facing company in 2020.

The US insurer was one of several firms believed to have courted the retirement plan provider last year.