Tag: higher premiums

AIG Q3 Profit Rises 490% on Insurance Sales, Higher Premiums

AIG sells travel insurance product to Zurich

American International Group Inc. reported strong improvement in third-quarter profit, as it sold more property-casualty insurance at higher premium rates. The company’s net income totaled $1.66 billion, a 490% jump over the year-earlier net of $281 million. Results in 2020 were depressed by pandemic-related shutdowns and the reluctance of many Americans to fly, which hurt… Continue reading AIG Q3 Profit Rises 490% on Insurance Sales, Higher Premiums

Travelers Quarterly Profit More than Doubles

A close up of upwardly pointing arrows surround the face of Benjamin Franklin on the U.S. one hundred dollar bill.

Property and casualty insurer Travelers Companies Inc reported third-quarter profit on Tuesday that more than doubled, helped by higher premiums, lower costs and an increase in returns from non-fixed income investments. Travelers also recorded a one-time gain of about $403 million from Pacific Gas & Electric’s emergence from bankruptcy. The gain, which stemmed from payments… Continue reading Travelers Quarterly Profit More than Doubles