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TOP NEWS IN GLOBAL INSURANCE
* American International Group Inc. CEO Peter Zaffino said the company has decided to postpone Corebridge Financial Inc.'s initial public offering due to the "high degree" of equity market volatility in May and June. AIG's second-quarter net income attributable to common shareholders rose year over year to $3.03 billion, or $3.78 per share, from $91 million, or 11 cents per share.
* A lawsuit filed in Alameda County Superior Court on behalf of CSAA Insurance Exchange policyholders alleges that the company overcharged its auto insurance customers by at least $150 million during the COVID-19 pandemic. The company allegedly charged auto insurance premiums that were based on projections of accident claims that did not factor in California's "stay at home" orders in March 2020.
➤ Insurance broker M&A activity slows in H1 after big finish to 2021
Insurance broker deal activity slowed sharply in the first half of 2022 from the latter half of 2021, according to an S&P Global Market Intelligence analysis.
➤ Allstate, Liberty Mutual saw heaviest catastrophe losses in Q2
Allstate and Liberty Mutual both reported more than $1 billion in catastrophe losses in the second quarter, the largest figures among publicly...