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The tech could quickly open the door to disruptors, and firms with poor data management will lose out. -
The forecast has increased since the early July update due to several additional factors.
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The move will impact around $50mn of gross written premiums in total.
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Its partnership channel grew three times in new writings year-over-year.
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Rates continue to fall across the state but are firmer in the southeast region.
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Q2 cat losses at AIG declined to $170mn from $330mn in the prior year quarter.
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Price decreases became lower throughout Q2, however, averaging 3% in April, 2.3% in May and 1.6% in June.
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Social inflation is driving non-renewals, while CoRs are up for P&C and casualty.
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The 127-acre corporate campus has been the reinsurer’s North America headquarters since 1999.
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The carrier sees opportunities to grow in New York, the mid-Atlantic and Florida.
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The executive has been with the brokerage since 2004.
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CEO Rick McCathron also said the company is seeking to diversify its portfolio.
