AIG
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The carrier takes its first bite of a $2bn repurchase authorisation after a steep drop in its share price.
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PartnerRe sale talks, Fidelis capital raising and AIG results.
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Pre-adverse development cover, the carrier saw impact from directors’ and officers’ and mergers and acquisitions-related business.
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The insurer said it had shaved about 7 percent off overall reinsurance costs.
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The carrier cut gross limits for the class of business by $40bn during the quarter. -
Natural catastrophe losses halve to $411mn, while the carrier releases reserves at the GI division.
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According to sources, AIG underwriters globally have been told not to write new construction risks in Latin America.
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Gordon Browne will take over as interim head of global specialty following the executive’s departure.
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Sources said Island Express Helicopters holds a $50mn hull and liability insurance policy.
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The carrier has initiated talks to transfer the $70mn portfolio and the team to another insurer.
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The Court of Appeal overturns an earlier ruling over credit-crisis-era bonuses.
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The AIG executive urged carriers to be "part of the solution" and help customers transition to cleaner energy.
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