In industry news:

Disappointing underwriting and investment returns resulted in AIG reporting an operating loss of $1.3 billion for the fourth quarter of 2015, compared to operating income of $1.4 billion in the prior-year quarter. AIG recognized a net loss of $1.8 billion for the fourth quarter of 2015, compared to net income of $655 million for the prior-year quarter. The fourth quarter net loss was primarily due to adverse loss development and lower investments, as well as realized capital losses and restructuring costs, according to the insurer. Full year 2015 after-tax operating income was $2.9 billion, compared to $6.6 billion for full year 2014. For the full year, net income fell more than 70 percent to $2.2 billion.

Read more via Insurance Journal here.

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