May 5, 2020 / 5:35 PM / a month ago

BRIEF-AIG CEO Says Co Will Emerge Stronger From Pandemic

May 5 (Reuters) - American International Group Inc:

* AIG (AIG.N> COO SAYS BUSINESS INTERRUPTION POLICIES THAT COVER VIRUSES COMPRISE WELL LESS THAN 1% OF OVERALL PROPERTY EXPOSURE - CONF CALL

* AIG CONFIDENT THAT BUSINESS INTERRUPTION POLICY EXCLUSIONS FOR CORONAVIRUS WILL BE UPHELD-COO

* CEO BRIAN DUPERREAULT SAYS INSURER EXPECTS TO SEE CONTINUED IMPROVEMENT IN GENERAL INSURANCE COMBINED RATIO “EX CATS” IN 2020 - CALL

* CEO SAYS COVID-19 WILL NOT RESULT IN A “MATERIAL REDUCTION OF LONG-TERM RETURN PROFILE” - CONF CALL

* COO PETER ZAFFINO SAYS COVID-19 WILL AFFECT ALL LINES OF COMMERICAL INSURANCE INCLUDING LIMITS AVAILABLE AND COINSURANCE - CONF CALL

* ZAFFINO SAYS EXPECTS TRAPPED CAPITAL IN ILS MARKET, CAUSING RESTRICTION OF FUTURE CAPITAL - CONF CALL

* ZAFFINO SAYS INSURER TO LAUNCH MODEL OFFICE AS PART OF AIG 200 PROGRAM TO TEST DIGITAL UNDERWRITING TECHNOLOGY - CONF CALL

* LIFE INSURANCE EXEC SAYS EXPECTS FEWER PLAN SPONSORS TO CHANGE PROVIDERS WHICH CAN AFFECT NEW BUSINESS - CONF CALL

* LIFE INSURANCE EXEC SAYS EXPECTS LOWER INDUSTRY SALES DUE TO COVID-19 - CONF CALL

* LIFE INSURANCE EXEC SAYS MORTALITY TRENDS CONTINUE TO BE “FAVORABLE” - CONF CALL

* LIFE INSURANCE EXEC SAYS COMPANY NOT EXPECTING “LARGE INCREMENTAL IMPACTS” TO MORTALITY RATES - CONF CALL

* AIG CEO SAYS “WE BELIEVE WE WILL DO WELL” THROUGH CORONAVIRUS PANDEMIC

* AIG CEO SAYS “WE’RE GOING TO EMERGE STRONGER AND MORE IN DEMAND THAN WE WERE BEFORE”

* AIG PRESIDENT- “IT’S FAIR TO SAY THAT THE PROFOUND IMPACT AND GLOBAL NATURE OF COVID-19 IS SOMETHING WE HAVE NEVER ENCOUNTERED”

* AIG PRESIDENT- COVID-19 WILL BE A HEADWIND FOR FUTURE CAPACITY IN THE REINSURANCE MARKET

* AIG PRESIDENT- SAW CLAIMS FROM ASIA, UK, CONTINENTAL EUROPE AND LATER IN Q1, FROM U.S., IN EACH CASE, PREDOMINANTLY IN TRAVEL AND CONTINGENCY

* 05-May-2020 08:30:50 AM - AIG PRESIDENT- COVID-19 HAD A LIMITED IMPACT ON Q1 NET PREMIUMS WRITTEN, WITH THE EXCEPTION OF A FALL-OFF IN TRAVEL AND M&A DURING MARCH

* AIG EXECUTIVE- THE VOLATILITY IN THE EQUITY MARKETS HAS A MINIMAL IMPACT ON OUR INVESTMENT INCOME

* AIG CFO- WITH RESPECT TO Q1 CECL CREDIT IMPACTS, WE RECOGNIZED APPROXIMATELY $236 MILLION OF CREDIT LOSSES Further company coverage:

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