Insurer American International Group Inc on Thursday reported a quarterly profit...
) on Thursday reported a quarterly profit that beat estimates, as the company booked an underwriting income in its general insurance business.
AIG, one of the largest insurers in the United States, posted an underwriting income of $12 million in its general insurance business for the quarter, compared with a loss of $1.07 billion, a year earlier. Net pre-tax catastrophe loss at the general insurance unit narrowed to $411 million from $826 million, a year earlier.
Duperreault has been overhauling the underwriting culture at AIG’s general insurance business, through initiatives including raising rates and shedding unprofitable lines.
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