AIG beats Q3 profit estimates on general insurance, life and retirement gains
© Reuters. The AIG logo is seen at its building in New York's financial district March 19, 2015. REUTERS/Brendan McDermid/File PhotoA popular investment and retirement savings option, fixed index annuities have seen strong demand in recent months as customers wade back into market-linked products following a recovery in investor sentiment this year.
AIG, one of the world's biggest commercial insurers, also said net premiums written in its general insurance arm for the quarter ended September 30 grew 1% to $6.46 billion. Catastrophe-related charges for AIG also fell 29% from a year earlier, when the industry faced huge bills from Hurricane Ian, to $462 million for the third quarter, mainly due to Lahaina Wildfire and Hurricane Idalia.
AIG's general insurance accident year combined ratio was 86.3%, compared with 88.4% a year earlier. The metric excludes catastrophe losses and a ratio below 100 signifies the insurer earns more from premiums than it pays out in claims.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Beats Fit Pro earbuds drop back down to a record low ahead of Black FridayThe Beats Studio Buds + and Beats Studio Pro headphones are also on sale.
Read more »
Beats Studio Buds+, Studio Pro headphones, and more are up to $150 offBeats earbuds deals include Studio Buds+ for $129.95. Best-selling Beats Studio Pro headphones also have a big $150 discount.
Read more »
Pinterest beats third-quarter estimates on ad market recoveryPinterest beats third-quarter estimates on ad market recovery
Read more »
Save $150 on the New Beats Studio Pro Headphones at Amazon's Early Black Friday SaleAmazon has Beats noise-cancelling headphones and earbuds up to 43% off ahead of the holidays.
Read more »
France's Bouygues beats forecasts driven by energy arm EquansFrance's Bouygues beats forecasts driven by energy arm Equans
Read more »
Paycom’s stock plunges 25% as payroll company whiffs on earnings outlookCompany beats on earnings but misses on revenue with third-quarter results
Read more »