AIG Europe moves back into profit
The business underwent a restructure in 2018 in preparation for the UK’s exit from the EU.
AIG Europe (AEL) made a pre-tax profit of £59.5m for the 12 months to 30 November 2018, according to a statement about its financial result.
This represents a vast improvement on the losses of £431.5m the previous year.
The combined operating ratio (COR) also improved more than 10% from 114.6% in 2017 to 103.4%.
The business also saw net written premium fall from £3.91bn to £3.78bn.
Focus
AIG detailed that this change reflected a “decision to focus on core areas of growth. Financial Lines
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