AIG suffers $3bn Q4 loss
Commercial insurance COR for last three months of 2016 hits 241.6%.
AIG has posted a group loss of $3.04bn [£2.45bn] for the last three months of 2016, a considerable increase on the $1.84bn lost in the comparable period of 2015.
The US-headquartered insurer highlighted that it had strengthened reserves by $5.6bn in the fourth quarter.
For the full year it lost $849m compared to a $2.2bn profit in 2015.
The commercial insurance division reduced net written premiums by 20.2% to $3.7bn for the fourth quarter (Q4 2015: $4.64bn).
Deteriorating COR
However the
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