AIG expecting large Q4 loss

AIG is estimated to incur a $750m to $800m nat cat loss thus far during Q4 2018, with $150m to $175m of that loss directly related to the losses from the California wildfires. Despite that hit there were also positive signs for AIG’s business, however, said AIG President/CEO Brian Duperreault while speaking Wednesday at the Goldman Sachs US Financial Services Conference in New York. He told guests and media that the company’s general insurance unit is on track to start 2019 “at a slight underwriting profit.”

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