⛈AIG may lose $7bn in tax deferrals under GOP reforms .
Slashing the US corporate tax rate to 20 percent may cost AIG $7bn by devaluing its deferred tax assets, according to CFO Siddhartha Sankaran.
The change would be offset by other effects of the proposal unveiled yesterday by Republican leaders in the House of Representatives, such as a 150 basis points increase in the company’s return on equity, Sankaran said during a conference call this morning with securities analysts.
Other aspects of the bill, including a provision similar to the… The Insurance Insider
http://m.insuranceinsider.com/aig-may-lose-7bn-in-tax-deferrals-under-gop-reforms
AIG signals reinsurance restructure with lower retentions .
AIG is looking to overhaul its reinsurance strategy
including a cut in retentions, after a third quarter with $3bn of hurricane losses that fell short of attaching its core cat cover.
The global carrier also previewed more pain to come on its property book in Q4 as it revealed in a call with securities analysts and investors that its early estimate of California wildfire losses is around $500mn before tax and net of reinsurance.
The hit from the wildfires will… The Insurance Insider
http://m.insuranceinsider.com/aig-seeks-to-restructure-reinsurance-and-reduce-risk