US casualty market to soften despite AIG troubles

Softening US casualty insurance market conditions looks set to continue, despite massive reserve additions at AIG. In February, AIG posted an $849m loss for 2016 after adding $5.6bn to its reserves in the fourth quarter, caused by an increase in frequency and severity of US casualty claims. The insurer has drastically reduced its US casualty business, cutting premium volume by…

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