AIG
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Industry veteran has “never seen anything like it” after admitting AIG was not “addressing the E&S market appropriately”. -
AIG’s AlphaCat-managed ILS funds grew AuM by $200mn in Q3, while assets at Nephila, Hiscox ILS and Mt Logan dipped in the quarter.
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The AIG subsidiary achieved rate rises of 30 percent across commercial D&O while also reducing its portfolio loss exposure.
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“Aggressive limit management” has been deployed across the insurer’s book.
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Adjusted income moved to $0.56 per share, compared with a loss of 0.34 per share in Q3 last year.
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Valic is a Houston-based life insurance business specialising in retirement plans for teachers.
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Further details come to light on AIG’s plans for $1bn Syndicate 2019.
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The underwriter has had a long career at the US carrier.
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The founding executive will hand over to present COO Paschal Brooks.
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From around 2012 to 2015, the prevailing orthodoxy at the big global cedants was that they had been buying too much reinsurance.
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Michelle Sipple has left amid a surge in premiums in the inland marine market.
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