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Chartis, AIG's Global Property-Casualty Business, Places Claims and Operations ...

18.05.12 Today announced that Chartis, its global property casualty business, has placed its Claims and Operations and Systems (O&S) organizations under a single management team to improve customer service, capitalize on the shared strategic initiatives of the two teams, and to drive improvement in Chartis' loss ratio, a critical component of its five year plans.

"Last May, we provided investors with a blueprint to achieve a double-digit return on equity and a combined ratio for Chartis in the low 90's by year-end 2015," said Chartis Chief Executive Officer Peter D. Hancock. "The plan requires successful execution of initiatives in four key strategic areas: business mix shift, loss ratio improvement, expense discipline and risk selection. This unified management approach will help us achieve our goals."

Eric Martinez, appointed Executive Vice President of Global Claims, Operations and Systems, will lead the new unit, reporting to Mr. Hancock. Mr. Martinez had previously served as the President and Chief Executive Officer of United Guaranty Corp. ("United Guaranty"), AIG's mortgage insurance unit.


Source: MarketWatch (press release)

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