American International Group's property and casualty business was able to generate rate increases of 7.3 percent in the U.S. as it shifted its emphasis to high-value businesses, its top officials told analysts today.
Net income attributable to AIG for the quarter was $2.7 billion, up from $2.3 billion a year ago.
The P&C business “is continuing a strong turnaround, you can see that in the accident-year losses, the ability to get rate where it makes sense, we're still growing the top line in a very strong way, and you could see that our reserve is continuing to be maintained at roughly the levels we think it's necessary,” Robert Benmosche, president and CEO told analysts in opening remarks at the conference call.
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