AIG posts $6.7bn loss for final quarter of 2017


AIG has revealed a loss of $6.7bn (£4.8bn) for the last three months of 2017 citing charges due to tax reform in the US and the cost of catastrophes.

The general insurance combined operating ratio (COR) for the period was 113.3% with net written premiums of $5.9bn.

For the full year the COR of 117.3% was an improvement on the 118.9% posted in 2016.

Net written premiums however dipped to $25.4bn from $29.6bn the year before.

The US provider restructured into three core divisions in September

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