Does Chartis Property Casualty Company Still Sell Insurance?
UPDATED: Apr 29, 2013
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Asked April 29, 2013
Chartis Property & Casualty does not sell insurance any longer. The company is still in business, but today acts as a holding company for the insurance giant, American International Group, commonly known as AIG. Policies written by Chartis Property & Casualty have been absorbed into and re-issued by the AIG group.
Read AIG Insurance reviews.
Chartis Property & Casualty was first incorporated in 1871 in New York City. The company sold property and casualty insurance under that name for over 100 years, when, during the economic turmoil of 2007-2008, the company was purchased and absorbed into AIG. Today, all of the products formerly offered by Chartis Property & Casualty are still offered by AIG, although Chartis Property & Casualty itself is no longer selling policies.
Chartis Property & Casualty is not rated individually, but instead inherits the rating of AIG, the parent company. Under the AIG name, Chartis Property & Casualty is rated "A" (Excellent), with a stable long term outlook grade of "a." At the time of their acquisition, Chartis Property & Casualty reported total assets of over 4 billion dollars, including working capital of approximately 5 million dollars. AIG was last rated by the A.M. Best Company in January of 2013.
Insurance Products Offered
Chartis Property & Casualty provided a range of insurance products. Vehicle insurance included car, truck, motorcycle, boat, RV and ATV coverage. Other types of insurance plans included Health insurance, home insurance, airplane coverage, and a line of insurance products tailored for businesses.
Answered April 29, 2013 by Anonymous