AIG (AIG) Strengthens Loss Reserves in Q4
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AIG Strengthens Loss Reserves in Its Non-Life Business by $3.6 Billion Pre-Tax, Representing Six Percent of AIG’s Total Non-Life Net Reserves
January 26, 2016 7:00 AM ESTNEW YORK--(BUSINESS WIRE)-- American International Group, Inc. (AIG) announced today that it has completed its fourth quarter Non-Life loss reserve analyses and has strengthened reserves by $3.6 billion pre-tax in the fourth quarter of 2015. Accident years 2004 and prior represent $1.3 billion. The remaining $2.3 billion results in an increase just under 0.7 points on average for the 2005 through 2014 accident year loss ratios.
Each quarter, AIG conducts a series of actuarial reviews to reassess the reasonableness of its carried reserves. These reviews are conducted for each class of business, and consist of hundreds of individual analyses. AIG considers data and information... More
