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
Tag: P&C insurance profits
Preliminary Q1 Results Show U.S. P/C Industry’s Underwriting Income Cut by More than Half
The U.S. property/casualty (P/C) industry saw its net underwriting income fall in first-quarter 2021 by 53% as compared with the same prior-year period, according to preliminary financial results. This financial review is detailed in a new Best’s Special Report, “First Look: Three-Month 2021 Property/Casualty Financial Results,” and the data is derived from companies’ three-month 2021… Continue reading Preliminary Q1 Results Show U.S. P/C Industry’s Underwriting Income Cut by More than Half