AIG Europe Limited has reported a net premium increase from £1.12bn to £1.19bn as a result of a focus on new business activity and underwriting discipline.
In its UK business results for the year ending 30 November 2013, AIG reported a combined ratio of 84%,
The insurer said this was 9% lower than previous year, resulting from a "combination of a benign claims environment, the full benefit of portfolio remediation carried out in 2012, improved operational efficiency and reduced project spend."
Meanwhile, the results showed a positive underwriting result of £181m - £213m higher than 2012.
Nicolas Aubert, CEO of AIG Europe Limited in the UK, said: ""At the heart of our approach is delivering value to our stakeholders, managing our risk and capital more effectively and making our operations more efficient. For example, from an underwriting perspective we are also growing our higher value business and our increased focus on the London market - announced last May - is fundamental to our underwriting strategy.
"2013 also saw us undertake a root and branch re-organisation of our claims operations in the UK to transform the service we offer across all business lines. This has already delivered significant cost savings and service improvements that will continue as we move forward"
