AIG Takes a Big Hit in Fourth Quarter, but Reinsurance Deal Should Reduce Uncertainty Going Forward
AIG’s fourth-quarter results were ugly but not necessarily surprising. AIG’s key historical issue has been adverse reserve development in commercial casualty lines, and the company stayed true to this pattern with $5.6 billion in adverse reserve development leading to $3.1 billion loss in the quarter and a modest loss for the full year. While this is discouraging and highlights the fact that the company still faces major operational issues, especially as much of the charge relates to recent acci...American International Group is a holding company. Through its subsidiaries, the company provides a range of property casualty insurance, life insurance, retirement solutions, and other financial services. The company's businesses include General Insurance, which provides insurance products and services for commercial and personal insurance customers; Life and Retirement, which brings together a portfolio of life insurance, retirement and institutional products provided through a multichannel distribution network; and Other Operations, which include Blackboard U.S. Holdings, Inc., a subsidiary focused on delivering commercial insurance solutions using digital technology, data analytics and automation.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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