AIG Reports First Quarter 2021 Financial Results
American International Group, Inc. (NYSE: AIG) today reported financial results for the first quarter ended March 31, 2021.
“AIG had an excellent start to the year and that is reflected in our first quarter results with growth in General Insurance and continued strong performance in Life and Retirement,” said Peter Zaffino, AIG’s President and Chief Executive Officer.
“In General Insurance, we delivered strong growth in net premiums written, driven by our North America and International Commercial businesses, and underwriting profitability. The combined ratio was 98.8 inclusive of catastrophe losses and 92.4, as adjusted. The successful repositioning of our global portfolio over the last three years allowed us to pivot from remediation to profitable growth, which we expect to continue throughout the year.
“Life and Retirement delivered another solid quarter, with adjusted pre-tax income growth driven by diversified product offerings and increased investment returns. With strong sales and profitability, this business continues to be a market leader in the protection and retirement savings industry.
“Our strong balance sheet and financial flexibility allow us to continue to invest in growth and core operating fundamentals with capital returns to shareholders when appropriate. During the first quarter we repurchased
“I am immensely proud of our global colleagues and what we have accomplished together. Our first quarter results reflect significant momentum as we continue our pursuit to become a top performing company.”
For the first quarter of 2021, net income attributable to AIG common shareholders was
AATI was
Total consolidated net investment income for the first quarter of 2021 was
Book value per common share was
As of March 31, 2021, AIG Parent liquidity was approximately
Today, the AIG Board of Directors declared a quarterly cash dividend of
The AIG Board of Directors also declared a quarterly cash dividend of
FINANCIAL SUMMARY
|
Three Months Ended March 31, |
|||||||
($ in millions, except per common share amounts) |
2021 |
|
2020 |
|||||
Net income attributable to AIG common shareholders |
$ |
3,869 |
|
$ |
1,742 |
|
||
Net income per diluted share attributable to |
|
|
||||||
AIG common shareholders |
$ |
4.41 |
|
$ |
1.98 |
|
||
|
|
|
||||||
Adjusted pre-tax income (loss) |
$ |
1,256 |
|
$ |
180 |
|
||
General Insurance |
|
845 |
|
|
501 |
|
||
Life and Retirement |
|
941 |
|
|
601 |
|
||
Other Operations |
|
(530 |
) |
|
(922 |
) |
||
|
|
|
||||||
Net investment income |
$ |
3,657 |
|
$ |
2,508 |
|
||
Net investment income, APTI basis |
|
3,191 |
|
|
2,699 |
|
||
|
|
|
||||||
Adjusted after-tax income attributable to AIG common shareholders |
$ |
923 |
|
$ |
105 |
|
||
Adjusted after-tax income per diluted share attributable to AIG common shareholders |
$ |
1.05 |
|
$ |
0.12 |
|
||
|
|
|
||||||
Weighted average common shares outstanding - diluted (in millions) |
|
876.3 |
|
|
878.9 |
|
||
|
|
|
||||||
Return on common equity |
|
24.2 |
% |
11.2 |
% |
|||
Adjusted return on common equity |
|
7.4 |
% |
0.8 |
% |
|||
|
|
|
||||||
Book value per common share |
$ |
72.37 |
|
$ |
69.30 |
|
||
Adjusted book value per common share |
$ |
58.69 |
|
$ |
60.55 |
|
||
|
|
|
||||||
Common shares outstanding (in millions) |
|
859.4 |
|
|
861.3 |
|
All comparisons are against the first quarter of 2020, unless otherwise indicated. Refer to the AIG First Quarter 2021 Financial Supplement, which is posted on AIG's website in the Investors section, for further information.
GENERAL INSURANCE
|
Three Months Ended March 31, |
|
|
|
|||||||
($ in millions) |
American Intl Group Inc
NYSE:AIGAIG RankingsAIG Latest NewsAIG Stock Data
47.37B
582.05M
0.33%
95.49%
2.22%
Insurance - Diversified
Fire, Marine & Casualty Insurance
United States
NEW YORK
|