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The environment for U.S. property and casualty insurers will become increasingly challenging and is without recent parallel, according to a new report released Aug. 10 by SNL. Softer commercial lines pricing, management strategies in a low-for-long interest rate environment and expectations for lower levels of reserve releases on both absolute and relative bases may place pressure on underwriting margins in 2015 and beyond.
By Matt Blumenfeld and Terry Leone and Thomas Mason Robert Benmosche has left his successor at American International Group Inc. with a far different insurer than the one he inherited. When Benmosche came aboard in 2009, AIG was in dire straits and a focal point of the financial crisis. During the next five years, Benmosche reinvented the company by shedding a number of businesses and emphasizing others.
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