Chartis US’ risk-adjusted capitalization declined slightly in 2012, primarily as a result of losses related to Superstorm Sandy. These losses were partially offset by a $1 billion capital contribution and lower net written premiums and loss reserves. The resulting level of risk-adjusted capitalization is well-supportive of the ratings.The group has remained a leading provider of global commercial lines insurance products, with an operating scope that remains a key differentiator in its ability to provide products and services that meet the needs of global and local insurers. Net written premiums continued to decline in 2012, primarily as a result of underwriting actions. Premium and customer retentions improved and favorable pricing actions begun in 2011 continued at an accelerated pace. Further increases in rate levels are expected in 2013, although rate changes may be of a lesser magnitude. However, despite these actions, underwriting results remain under pressure, primarily as a result of losses due to catastrophe and weather events.
A.M. Best Affirms Ratings Of American International Group, Inc. And Its U.S. Property Casualty Subsidiaries
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.