AIG still in trouble after the natural disasters of 2018

As at 30 September 2018, the losses related to natural disasters recorded by the AIG group amounted to 1.6 billion USD. A figure still in the red but lower than the loss of 1.74 billion USD reported during the same period in 2017.

The insurer justifies this toll by the severity of the losses that occurred during the first nine months of 2018. Indeed, Japan suffered deadly floods and was affected by the violent typhoon Jebi while the Southeastern United States was hit by Hurricane Florence. The mudflows that took place in California beginning 2018, also increased the bill.

As a reminder, AIG was one of the financial institutions most affected by the 2008 crisis. The group survived the bankruptcy with difficulty through the US Federal Reserve Bailout.

In 2017, AIG lost its title of the biggest U.S. insurer by market capitalization, in favour of Chubb.