Third Point revealed in its quarterly letter to investors that the firm had initiated a position in AIG during Q4. "Third Point initiated a position in AIG during the Fourth Quarter. AIG is a global P&C insurer that, until recently, held a life insurance subsidiary, Corebridge. AIG has undergone a massive overhaul since the global financial crisis. The current executive team, who started in 2017, has made significant progress turning around the P&C insurance operations that previously suffered from unprofitable underwriting, significant loss volatility, and inadequate reserving," the firm stated.
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