AIG expects $100m reserve addition from Ogden rate increase

AIG is the latest insurer to announce that a reduction in the UK’s Ogden rate, which sets the discount applied to lump-sum bodily injury payments, will hit its first quarter results. The firm anticipates a $100m pre-tax write down. AIG expects to record an increase to prior year loss reserves of approximately $100m in Q1, following the recent decision by…

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