AIG's Chartis Rates Fair, CFO Says
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AIG
NEW YORK (TheStreet) -- American International Group's(AIG Quote) property casual division would rather lose sales than cut rates, according to a report.
Robert Schimek, the CFO of Chartis, said comments from other insurers that the unit has been selling coverage at unsustainable rates are false, Bloomberg reported. The insurers that have been spreading these "rumors" that AIG is offering coverage at below-market rates to retain clients include Chubb and Liberty Mutual. The Government Accountability Office said in a March that it did not discover evidence of under-pricing by AIG. -- Reported by Jeanine Poggi in New York Follow TheStreet.com on Twitter and become a fan on Facebook.- Loading Comments...
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