Chartis cuts underwriting losses
AIG’s insurance operation Chartis has chipped away it its underwriting losses cutting its combined ratio to 109% from 116.8% and turned in operating and pre-tax profits compared with losses in 2010.
It said fourth quarter 2011 results were impacted by $467m of catastrophe losses, including $368m related to the Thailand floods, compared to $203m of catastrophe losses in the fourth quarter of 2010
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