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The drop in profitability appears to be a function not of the health insurance segment, which reported the same margin as last year, but of the smaller business that sells disability, property and other insurance.
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Beleaguered insurer AIG is renaming its property-casualty and general insurance business "Chartis, " which it derived from the Greek word for map.
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On Thuesday, the company said it would combine the employee benefits of its property insurance unit Chartis and life insurance business American General into a new unified employee benefits organization, named AIG Benefit Solutions.
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If you are receiving insurance money, especially from business or investment property, get some sound tax advice.
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Originally involved with cement-making, he moved on to property development, hotels, and a hugely successful insurance business.
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This will allow AIG to focus on its core property-casualty and U.S. life insurance business, he said.
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When he took over in 1967, AIG was a minor American property-and-casualty insurer with a life-insurance business based in Asia.
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Without life insurance, your heirs would have to sell the property or the business in a hurry: Estate tax is due within nine months of your death.
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