AIG Europe turns a profit in 2018

Insurance Business America | May 02, 2019

How’s this for a turnaround? After reporting a loss of £431.5 million for 2017, AIG Europe Limited (AEL), which restructured in December 2018 in preparation for Brexit, has now reported a pretax profit of £59.5 million for the twelve months to November 30, 2018. Net premium written fell to £3,787.0 million from £3,919.7 million for 2017, as the company decided to focus on key areas of growth. And while financial lines saw a 7% rise in net premiums written, this was offset by a decline in property, where premiums declined by 17%. The good news? AEL’s loss ratio improved to 73.1% from 82.5% the previous year, which according to a press release, was driven by a reassessment of risk selection and reinsurance cover. The underwriting result improved to a loss of £131.3 million from a loss of £569.9 million only 12 months before. Operating expenses were lower, while a combination of positive underwriting performance, strategic risk selection, and lower catastrophic losses resulted in a combined ratio of 103.4%.

Spotlight

Some types of auto insurance coverage are required, others are optional, but you’ll want to understand them all because they provide protection against several types of risk.

Spotlight

Some types of auto insurance coverage are required, others are optional, but you’ll want to understand them all because they provide protection against several types of risk.

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Zurich Group Germany, Cognizant | July 07, 2022

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COMPLIANCE

Counterpart Launches Excess Insurance Product for Small Businesses with Aspen

Counterpart, Aspen Insurance Holdings | July 21, 2022

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INSURANCE TECHNOLOGY

One80 Intermediaries Deepens Affinity Business With Acquisition of SelmanCo

One80 Intermediaries | July 11, 2022

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