AIG posts $10bn profit for 2013 amid reports of job cuts
Provider improved COR in property and casualty although premiums written declined.
AIG has reported operating income of $10.11bn [£6.05bn] for its total insurance operations in 2013. This is compared to income of $5.96bn in 2012.
The group’s property and casualty division posted an improved combined operating ratio (COR) of 101% for 2013, compared with 109% in the preceding year.
Net premiums written declined marginally from $34.44bn in 2012 to $34.39bn last year. The division’s operating income for 2013 was $4.8bn, up from $1.8bn in 2012.
In the fourth quarter of 2013, AIG
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