AIG has said its earnings fell 29% as revenues declined, realized losses on investments widened, and business in Asia trailed off.
Revenue for the quarter fell $1.7bn as business in Taiwan and Japan was hurt by increased competition.
AIG said the company's more profitable products in those markets were winding down, and that profit margins on new business were lower.
Chief Executive Martin Sullivan said his company was "taking appropriate action."
The company's property and casualty unit however showed a gain in operating income of 68.6% before capital gains and losses.
AIG said second-quarter net earnings fell to $3.19bn from $4.49bn.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
