BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

Login Register Subscribe

AIG results and comp


American International Group Inc. reported in its recently released 2010 results that since 2007 its property/casualty insurer operations have shed 55% of the company’s net premiums in excess casualty, primary and excess work comp lines.

Its excess workers comp net premiums written dropped to 0.3% of its total in 2010 from 0.6% in 2006. Specialty workers comp dropped to 2.5% in 2010 from 11.9% in 2006.

The company previously stated that it was moving away from unprofitable business.

Overall, Chartis' net written premiums declined 2.6% for the year, to $29.87 billion, and fell 3.3% for the quarter, to $6.7 billion. AIG’s fourth quarter 2010 results are available here.

AIG said its results reflect $4.2 billion of reserve strengthening in the fourth quarter for its Chartis Inc. property/casualty operations. About 80% of the reserve charges were for asbestos, excess casualty, excess work comp, and primary work comp lines.