U.S. Insurance Industries After the 2007-2009 Financial Crisis
Johnson B. Powell, "U.S. Insurance Industries After the 2007-2009 Financial Crisis"
2013 | pages: 122 | ISBN: 1629481181 | PDF | 1,6 mb
2013 | pages: 122 | ISBN: 1629481181 | PDF | 1,6 mb
The U.S. life and property/casualty (P/C) insurance industries wrote over $1 trillion in total premiums in 2011 and play an important role in ensuring the smooth functioning of the economy. Concerns about the oversight of the insurance industry arose during the 2007-2009 financial crisis, when one of the largest U.S. holding companies that had substantial insurance operations, American International Group, Inc. (AIG), suffered large losses. These losses were driven in large part by activities conducted by a non-insurance affiliate, AIG Financial Products, but also included securities lending activity undertaken by some of its life insurance companies which created liquidity issues for some insurers.
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