AIG CEO Hancock on Results and Turnaround Plan

The transcript discusses AIG's achievements, focusing on client execution and strategic planning. It highlights success in personal lines, competition with Chubb, and the performance of life insurance. The company is managing its legacy portfolio to reduce capital allocation and improve earnings. AIG is also addressing challenges posed by low interest rates and Brexit, ensuring flexibility and client focus.

What is the main reason for the early achievement of AIG's targets?

• Reducing product prices

• Focus on clients and execution

• Increased marketing efforts

• Hiring more employees

In which area did AIG see significant growth in their personal lines business?

• Travel insurance

• Health insurance

• High net worth and private client business

• Automobile insurance

How did AIG manage to improve their expense ratio in the personal lines business?

• By expanding into new markets

• By reducing costs

• By increasing premiums

• By acquiring competitors

What was Carl Icahn's criticism of AIG's life insurance business?

• It was too small to be profitable

• It was too big to manage

• It was not innovative enough

• It was too focused on one market

What strategy is AIG using to handle their legacy life insurance portfolios?

• Merging them with new portfolios

• Selling them off entirely

• Increasing investment in them

• Reducing capital allocation

How does AIG plan to manage the impact of low interest rates on new business?

• By focusing solely on existing clients

• By reducing the number of new products

• By adjusting product pricing and design

• By increasing the volume of fixed annuities

What is AIG's approach to dealing with the potential impacts of Brexit?

• Relocating their headquarters

• Closing their UK operations

• Being flexible and agile

• Focusing only on the UK market