AIG's insurance operation Chartis maintains operating income while group makes loss
American International Group’s (AIG) general insurance operation Chartis, has reported operating income before net realised capital gains of $955m for Q2 2010 (Q2 2009: $1bn).
The group as a whole, reported a $2.7bn net loss for the quarter, compared to net income of £1.8bn in Q2 2009.
The insurer said Chartis incurred about $287m of catastrophe losses in the quarter as well as a net property loss of $23m related to the Deepwater Horizon explosion and subsequent oil spill in the Gulf of Mexico.
In a statement, the insurer said: “Chartis continues to monitor the casualty exposure to Deepwater Horizon and believes that carried loss reserves at June 30, 2010 are adequate
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