Insurer American International Group Inc on Monday posted a 56% fall in quarterly adjusted earnings, spurred partly by higher catastrophe losses and lower private-equity returns.
) on Monday posted a 56% fall in quarterly adjusted earnings, spurred partly by higher catastrophe losses and lower private-equity returns.
Adjusted after-tax income attributable to AIG common shareholders fell to $571 million in the second quarter ended June 30, from $1.3 billion a year earlier. The loss included $674 million of catastrophes, net of reinsurance, partly reflecting $458 million related to COVID-19 and $126 million for civil unrest claims.Net adjusted investment income dropped $537 million from a year ago to $3.2 billion. Performance was hurt by $276 million in private-equity losses compared with $238 million in private-equity income a year ago which included a large gain from one of the holdings.
AIG has been using the metric to gauge the success of a turnaround plan launched by Chief Executive Officer Brian Duperreault upon taking the insurer’s helm in 2017.Gross premiums written fell 2% to $8.47 billion in the general insurance business.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Virgin Galactic reports another quarterly loss, aiming to fly Richard Branson in early 2021Space tourism venture Virgin Galactic reported second quarter results after the bell on Monday.
Weiterlesen »
Natixis replaces CEO after second quarterly loss in a rowFrench investment bank Natixis announced on Monday it was replacing its CEO with the finance chief of its parent company in order to prepare a new strategy after it reported its second straight quarterly loss.
Weiterlesen »
National CineMedia Posts 96 Percent Revenue Fall as Movie Theaters Reopening Faces UncertaintyThe in-theater advertising firm swung to a second quarter loss as it faces continuing theater closures amid the coronavirus pandemic.
Weiterlesen »
Twitter Expects to Pay 9-Figure Fine For Violating FTC AgreementThe company says that it estimates a 'range of probable loss' of between $150 million-$250 million.
Weiterlesen »
U.S. manufacturing activity near 1-1/2-year high, factory job losses persistU.S. manufacturing activity accelerated to its highest level in nearly 1-1/2 years in July as orders increased despite a resurgence in new COVID-19 infections, which is raising fears about the sustainability of a budding economic recovery.
Weiterlesen »
Adele's swore off dieting and exercise in 2011 before seven stone weight lossAdele, who's thought to have lost seven stone, said going to the gym was 'at the bottom of her list' in the candid unearthed interview from 2011
Weiterlesen »