AIG expects $100 million increase to loss reserves from
Posted On: Apr. 20, 2017 4:00 AM CST
A change in a U.K. discount rate for commercial lines insurance claims has prompted U.S.-based American International Group Inc. to increase its reserves by $100 million, StreetInsider.com reports. The increase follows the U.K.'s decision to reduce the Ogden rate to -0.75%. The rate change primarily affects the liability and financial lines business within commercial insurance in the United Kingdom.