AIG Will Take a Catastrophe Hit in 3Q
American International Group announced that it expects to record $1.5 billion to $1.7 billion in net catastrophe losses for the third quarter. The bulk of these losses ($900 million to $1 billion) relate to multiple events in Japan during the quarter, but Hurricane Florence and California mudslides were also an issue. Meanwhile, the company’s estimate for losses related to Hurricane Michael, which will be included in fourth-quarter results, is $300 million to $500 million. Looking over the detai...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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