American International Group Inc., the insurer that repaid a U.S. bailout in 2012, is limiting its focus on market share as competition reduces the ability to charge more for coverage, Chairman Steve Miller said.
“We do not have pricing power, except to the extent we can prove we can give better service than our competitors,” Miller told Tom Keene and Scarlet Fu on Bloomberg Television’s “Surveillance” today. “But the main thing that will distinguish us is that we select the right risks and price them right with our premiums. And if that means that we lose some business elsewhere so be it.”
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