AIG's P&C writings scaled back by a fifth

American International Group (AIG)'s commercial insurance
arm booked $4.42bn of net written premiums (NWP) in the second
quarter of 2016, down 20 percent year-on-year, with the reduction
in retained business now likely to be higher than previously
suggested.
AIG's CEO of commercial Rob Schimek told investors on the
carrier's Q2 earnings call that his unit was now forecasting
that NWP would be down $3bn for full-year 2016, reflecting
remediation work and heightened use of reinsurance.
Last night