NU Online News Service, Feb. 16, 11:32 a.m. EST
American International Group Inc.'s $4.1 billion charge to bolster the reserves of its property and casualty unit, Chartis, means AIG will need to raise prices, said William R. Berkley, chief executive officer of W.R. Berkley Corp.
Mr. Berkley said his competitor will need to increase prices because "they [AIG] are not so well capitalized. They are not so, 'we can go anywhere.'"
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