“We expect the combination of these factors to drive a 10 benefit to the combined ratio of the converted business.”

In context

“5 million in gross premiums written in fourth quarter, In January, we had a retention rate of 75%, reflecting approximately a $180 million in gross premiums written, an impressive result considering that we did not commence work to convert the book in Europe until we receive the required regulatory approvals in December. This is a terrific performance and a validation that clients and brokers want American International Group, Inc. to have an expanded role on their insurance placements. American International Group, Inc. has many advantages in executing this conversion. We have ample capacity to grow, reinsurance treaties that will benefit the business at a lower cost, and a more advantageous expense base given we did not need to replicate Everest's infrastructure to service the business. We expect the combination of these factors to drive a 10 benefit to the combined ratio of the converted business. To support the conversion, we leveraged our Gen AI capabilities to evaluate the Everest portfolio and prioritize the accounts we want to renew in a fraction of the time. As we've discussed, we've deployed a robust ontology of American International Group, Inc.'s businesses and we're able to quickly build an Everest ontology In essence, a digital twin of that portfolio, which allowed us to prioritize how the portfolios could blend together enabling us to deliver compelling solutions for clients and our broker partners. We reviewed Everest's portfolio to determine account limits. Attachment points, and pricing, and to identify conversion strategies. In addition, we leverage our GenAI solution underwriting by American International Group, Inc. Assist to accelerate the conversion process in k”