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...Now, AIG is seeking to refocus its Chartis unit as part of a push for increased profitability....
...a direct impact on a group such as Chartis....
...Chartis, the property insurance operation, recorded $936m in operating income compared with $783m a year earlier. Lower catastrophe losses and higher prices helped that business....
...AIG, which was bailed out by the US government in 2008, has depended on sales of non-core assets and tax benefits in recent quarters to overcome poor results for its insurance business, Chartis, which was...
...“It’s a business that I’d say has been managed to growth over the last 30 years,” Mr Hancock said about his Chartis unit, which sells property insurance....
...Chubb and AIG’s Chartis unit, to cut rates....
...AIG’s net income for the quarter was $19.8bn, which included a $17.7bn deferred tax adjustment, plus $1.6bn in core operating earnings, thanks to improved performance in its Chartis business insurance unit...
...Paul Hayes, Ascend’s director of air safety, said leading airline insurers including ACE, Allianz, Amlin and Chartis should have had a profitable 2011 because premium income was expected to exceed claims...
...There are nearly 70 general insurers operating in the country, including Allianz, Chartis, Axa and Japan’s top three non-life insurers – Tokio Marine, MS&AD and NKSJ Holdings – either independently or in...
...Three big insurance companies dominate the market for local authority insurance – Zurich Municipal, Travelers and Chartis....
...AIG has raised $500m from selling its remaining stake in Blackstone, the latest move to shed non-core holdings and focus on its core insurance businesses....
...Chartis, the property-casualty insurer; SunAmerica, the life insurer; United Guaranty Corporation, the mortgage insurer; together with other businesses led by International Lease Finance Corporation, the...
...Chartis, an entity formed in 2009 to house AIG domestic and international property and casualty insurance operations, was also restructured into two global groups, ahead of the Treasury’s May sale of its...
...At Chartis he will be in charge of managing its property and casualty insurance lines....
...The results underline AIG’s transformation after its $180bn US government rescue in the financial crisis from a sprawling empire to a company focused on core insurance business....
...Chartis reported an operating loss of $463m, compared with income of $879m a year earlier....
...The industry has since been growing rapidly, with competition from international insurers and reinsurers, such as Swiss Re, Zurich Financial, syndicates from Lloyd’s of London, US-based Chartis and others...
...The company said the office of the special inspector general for the government’s troubled asset relief program did not review either the pricing or the reserves of its property insurance arm, Chartis....
...You can look at providers like The Hartford, Chartis, Beazley, Hiscox and Marsh (a consolidator) for more information....
...Chartis....
...Yet AIG has remained a major force in the insurance markets, particularly its global property and casualty business now known as Chartis....
...at Chartis, its property and casualty insurance arm....
...Chartis does not include nuclear damage-related insurance in its property policies, although about 40 per cent of its property policies include earthquake insurance, which traditionally commands a stiff...
...There have been a handful of past attempts to market reputation-related insurance, such as Chartis offering a small “spin-doctor cover” add-on to its directors’ and officers’ insurance....
...AIG’s performance was held back by a $4bn operating loss at its Chartis unit, which sells insurance for commercial property and aircraft, and boosted reserves related to asbestos cases and workers’ compensation...
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