BLOOMBERG — Brian Duperreault picked a tough year to shore up AIG's underwriting.
Losses from wildfires in California drove American International Group Inc.'s fourth-quarter catastrophe costs higher than rivals' and beyond what some analysts estimated. The company's results were also dragged down by a nearly $7 billion charge tied to the U.S. tax overhaul that AIG had previously warned investors to expect.
Duperreault, who took over as chief executive officer in May, made progress on commercial underwriting while contending with high costs in one of the worst years for natural disasters on record. He has signaled that the firm is moving back to acquisitions with the January agreement to buy Validus Holdings Ltd.
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