AIG
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AIG will recognise an impairment charge of $210mn in connection with shutting down the InsurTech. -
The General Insurance division reported an underwriting loss of $87mn, driven by $272mn in Covid-19 claims.
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The venture was the first waved through under the streamlined process at Lloyd’s.
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City comptroller Scott Stringer said AIG, BHSI and Liberty Mutual should stop underwriting and investing in coal.
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Coronavirus’ unwanted record; John Neal speaks out; structured credit freezes up.
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The executive will join the carrier later this year, reporting to Jon Hancock.
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Among the biggest gainers was Fairfax Financial, which jumped by nearly 10 percent.
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The carrier’s entry into the class comes as D&O rates soar on the back of heightened claims.
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Insurance stocks outperformed as Federal Reserve agreed to take further action and lawmakers mulled a pandemic backstop.
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(Re)insurance shares in Europe also outperform market indices after a strong day for US brokers yesterday.
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The mid-market commercial insurer also gains authorisation in Washington State.
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The Lloyd’s performance management director delayed his departure from the Corporation to assist with Covid-19 planning.
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11 September 2025