American International Group (AIG) reported a decrease of 56% in its net profit during the third quarter of 2020. As at 30 September 2019 it went from 648 million USD to 281 million USD twelve months later.
The non-life gross written premiums amounted to 8.251 billion USD against 8.583 billion USD a year earlier. The combined ratio was established at 107.2%.
The result of the American insurer has been affected by the losses related to Covid-19 and to natural catastrophes which amounted to 185 million USD and 605 million USD respectively during the period under review.
For the record, the Group announced at the end of September its will to divest its life and pension activities to focus on property and casualty insurance.
Read also | Insurance companies in the USA [4]