A top executive of Chartis, the rebranded property and casualty carrier of American International Group, says any lingering accusations by competitors about alleged underpricing to counteract AIG's damaged reputation are bogus and simply sour grapes.
The comments from Robert Schimek, chief financial officer of Chartis, came near the end of an appearance here at The National Underwriter Company's 21st Annual Executive Conference for the Property and Casualty Industry, sponsored by Ernst & Young and Genpact.
Mr. Schimek said Chartis–formerly AIU Holdings, encompassing the domestic and foreign p&c business units of AIG–puts a strong focus on underwriting and affirmed that the carrier is walking away from business that it believes is underpriced, particularly in workers' compensation.
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