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AIG Reserve Action Seen Ensuring Hard Market

AIG Reserve Action Seen Ensuring Hard Market American International Groups bombshell announcement last week that it was adding billions in loss reserves should guarantee there ...

By Daniel Hays | Updated on February 04, 2003

AIG Reserve Action Seen Ensuring Hard Market American International Groups bombshell announcement last week that it was adding billions in loss reserves should guarantee there will be no softening of prices in the insurance marketplace, analysts contend.

In their view, the giant New York-based insurers action to boost gross loss and loss adjustment expense reserves by $3.5 billion, or $1.8 billion after taxes and reinsurance, is a bellwether for the industry and a reflection of a soft market in past years.

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