An underwriting profit by excluding cat losses is not an underwriting profit no matter how many times you report it.
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investment income will not be Great! Interest rates at near 0%. and money going to reinsurancebut Management will get a big BONUS. What will happen is they will slowly get out of WC, Comm Trucking Middle Market and Personal Lines. They can not do it al at once because they need premium to pay claims so their plan takes a lot of time. Travelers just reported a GREAT Quarter. After 20 years this company has not had a good quarter unless they play with the numbers. To bad no one is watching.
Everyone is negative on this site. The truth is underwriting will be profitable again. A major milestone. They probably mitigated there losses with Reinsurance. I am sure there will be more layoffs, but AIG doesn’t talk about them. I am not sure how Investment Income will be this quarter. Does anyone know?
It will be bad as well as Q4. AIG will go full purge on everything from now on for the next year or so.
Don't expect anything positive until after this regime is gone....along with most of NA operations.
I take Thursday afternoon off so I always have a long weekend. Go AIG
Earnings mean more layoffs. Work slowdown, long lunch, nap, Fridays are always offs, Mondays start at 11:00 am Why because I have not had a raise in years and my bonus is not really a bonus
Earnings will be so-so thanks to shedding Blackboard loss runs and more layoffs to come.