AIG 2014 Annual Report Download - page 30
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ITEM 1 / BUSINESS / COMMERCIAL INSURANCE
13
Commercial Insurance Competitive Strengths and Challenges
Our competitive strengths include:
Financial strength and market leadership – a well capitalized, strong balance sheet highly valued by customers that
allows us to be a market leader in certain lines of business
Underwriting and claims expertise – a recognized, talented and deeply experienced team
Global franchise – one of the largest operating footprints in the industry and deep history in developed and emerging
markets
Scale – size and scope of business facilitates risk diversification to optimize returns on capital
Diversification – breadth of customers served, products underwritten and distribution channels
Innovation – a culture of innovation driven by risk management expertise and a focus on customer needs
Service – a culture of striving to be our customers’ most valued insurer
Information and science capabilities – knowledge and information to improve a customer’s experience
Our challenges include:
Over capacity in certain lines of business can lead to downward pressure on market pricing
Tort environment volatility in certain jurisdictions and lines of business
Regulatory requirements increasing in volume and complexity due to heightened regulatory scrutiny and supervision of the
insurance and financial services industries in recent years
Volatility in the U.S. housing and mortgage markets and from natural and man-made catastrophes