AIG Eyes Greater Use of Reinsurance Following $1.7B Loss in Q3

After American International Group was hammered by a $1.7 billion loss in the third quarter, President and Chief Executive Officer Brian Duperreault said he plans to increase the company’s use of reinsurance to reduce volatility. The third-quarter loss compares to a $462 million profit in the third quarter of 2016. For the first nine months of this year, AIG’s net income was $610 million, compared to a net income of $2.2 billion in the same period last year. Third-quarter results included pre-tax catastrophe losses of $3 billion, primarily from Hurricanes Harvey, Irma and Mar...