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Big Insurance after Harvey, Irma—and More

PART:
1 2 3 4 5 6 7 8
Part 2
Big Insurance after Harvey, Irma—and More PART 2 OF 8

What’s Happening with AIG’s Commercial Insurance Division?

Outlook for 2H17

American International Group’s (AIG) commercial insurance division consists of two parts: Liability and Financial Lines and Property and Special Risks. According to AIG’s top management, the Property and Special Risks segment witnessed growth in 1H17, and this trend is expected to continue in 2H17.

AIG’s management is focusing on its US Large Limit property business. The Liability and Financial Lines segment will likely remain volatile and is expected to fluctuate with fluctuating foreign currencies, mainly due to international exposure.

What&#8217;s Happening with AIG’s Commercial Insurance Division?

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1H16 versus 1H17

In 1H16, AIG reported total operating revenues of $10.8 billion, while in 1H17, AIG posted total operating revenues of $9.2 billion—a 15% fall, primarily due to lower premiums in 1H17 compared with 1H16.

In 1H16, AIG managed to generate premium-related revenues of $9.4 billion, while in 1H17, it posted premium-related revenues of $7.4 billion, reflecting a substantial 21% decline.

Total operating expenses

By comparison, Chubb (CB) has most recently reported total operating expenses totaling $25.9 billion on a trailing-12-month or TTM basis. Other insurance giants (IYF) have reported following total operating expenses on a TTM basis:

  • American International Group (AIG): $49.5 billion
  • MetLife (MET): $63.3 billion
  • Allstate (ALL): $33.8 billion
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