AIG quarterly profit nosedives as COVID-19 claims loom
Insurer American International Group Inc
on Monday posted a 93% drop in quarterly adjusted
profit, as it set aside money to cover claims related to the
COVID-19 outbreak, which it called the single largest
catastrophe loss the industry has ever seen.
AIG, one of the largest U.S. insurers, posted an underwriting
loss of $87 million in its general insurance business in the
first quarter, compared with a profit of $179 million a year
earlier, mainly due to losses related to the ou
on Monday posted a 93% drop in quarterly adjusted
profit, as it set aside money to cover claims related to the
COVID-19 outbreak, which it called the single largest
catastrophe loss the industry has ever seen.
AIG, one of the largest U.S. insurers, posted an underwriting
loss of $87 million in its general insurance business in the
first quarter, compared with a profit of $179 million a year
earlier, mainly due to losses related to the ou
Posted by Reuters
