American International Group, in its pursuit of commercial insurance business, is making “stupid” moves that threaten to destabilize the market, the chief executive of Liberty Mutual charged.
Edmund F. Kelly, chairman, president and CEO of Boston-based Liberty, made his remarks in the course of a conference call with financial analysts to discuss his company's third quarter results, which saw profits decline 98.5 percent.
An executive of AIG denied that this was the case, during his company's third quarter conference call.
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