American International Group Inc. said it expects to record a $4.1 billion charge in the fourth quarter to bolster loss reserves for its Chartis property and casualty unit.

The decision was made after the company's year-end review of loss reserves.

About 80 percent of the charge will be put toward four classes of business: asbestos, excess casualty, excess workers' compensation and primary workers' compensation, AIG said.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.