Welcome to our dedicated page for American International Group news (Ticker: AIG), a resource for investors and traders seeking the latest updates and insights on American International Group stock.
American International Group, Inc. (AIG) is a multinational finance and insurance corporation based in the USA, operating in over 80 countries and jurisdictions. Known globally for its extensive insurance and financial services, AIG offers a wide array of insurance products, including property, casualty, and life insurance, through its various subsidiaries. Despite recently spinning off its life insurance segment into Corebridge Financial, AIG retains a majority stake in it. AIG’s property/casualty insurance subsidiaries, collectively referred to as AIG PC, have been recognized for their strong balance sheet and improving underwriting performance, affirmed by the recent rating upgrades from AM Best. AIG PC continues to benefit from robust reinsurance support and positive pricing momentum across key business lines, making its operating metrics competitive among its peers. Recent financial results highlight AIG’s profitability and strategic progress, including significant capital management actions and the deconsolidation of Corebridge Financial, positioning AIG as a prominent leader in the global insurance market.
AIG reported strong financial results for Q2 2022, highlighting a net income of $3.0 billion or $3.78 per diluted share, a significant increase from $0.11 per share a year ago. The General Insurance sector achieved a combined ratio of 87.4%, its first sub-90 ratio in over 15 years, with underwriting income up 73%. Life and Retirement reported $563 million in adjusted pre-tax income, though down from $1.1 billion last year, impacted by lower investment income. AIG repurchased $1.7 billion in shares and declared a dividend of $0.32 per common share, payable on September 30, 2022.
American International Group (AIG) has appointed Charlie Fry as Executive Vice President, Reinsurance Purchasing and Risk Capital Optimization, effective July 31. Fry will oversee AIG’s reinsurance purchasing strategy and capital allocation in its property casualty sector. CEO Peter Zaffino emphasized the importance of reinsurance in AIG's transformation into a top-performing company, citing Fry's previous contributions to the firm. Fry has extensive experience, having previously served as CEO of Acacia Holdings and held significant positions at various insurance firms.
American International Group (AIG) will announce its second-quarter financial results for the period ending June 30, 2022, after the market closes on August 8, 2022. AIG's press release and financial supplement will be accessible in the Investors section of its website. AIG will also conduct a conference call on August 9, 2022, at 8:30 a.m. ET to discuss the results, with a replay available afterward. AIG operates globally, offering a wide range of insurance products and services in approximately 70 countries.
American International Group (NYSE: AIG) has been named one of the 50 most community-minded companies in the United States by Points of Light. This recognition highlights AIG's commitment to corporate citizenship, evidenced by its substantial contributions, including over
American International Group, Inc. (NYSE: AIG) announced the redemption of all outstanding Series A-2 Junior Subordinated Debentures on June 15, 2022. AIG will pay registered holders a redemption price equal to 100% of the principal amount plus accrued interest. As of May 25, 2022, £1,000,000 of the Debentures remain outstanding. The company emphasizes that this announcement does not serve as a notice of redemption. Forward-looking statements regarding the completion of the redemption may differ from actual results, which are subject to various uncertainties.
AIG announced significant progress on its Life and Retirement separation, establishing a standalone capital structure and publicly filing an S-1 registration. The company reported a net income of $4.3 billion, or $5.15 per diluted share, marking a year-on-year increase from $3.9 billion or $4.41. General Insurance combined ratio improved to 92.9%, while adjusted after-tax income per diluted share rose to $1.30, up 24%. AIG repurchased $1.4 billion of common stock and increased its repurchase authorization to $6.5 billion, reflecting strong shareholder returns. AIG also committed to achieving net zero greenhouse gas emissions by 2050.
American International Group (AIG) announced the appointment of Tom Bolt as Executive Vice President and Chief Risk Officer, effective immediately. He replaces Sabra Purtill, who now serves as Chief Investment Officer for AIG’s Life & Retirement business. Bolt, with over 35 years of experience, has been pivotal in AIG’s General Insurance turnaround since joining in 2018. Additionally, Kean Driscoll has been appointed Chief Underwriting Officer for General Insurance, effective immediately, further solidifying AIG's leadership as it navigates complex risk management challenges.
American International Group (NYSE: AIG) appointed Sabra Purtill as Executive Vice President and Chief Investment Officer of its Life & Retirement business, which will soon be rebranded as Corebridge Financial, Inc. Ms. Purtill has extensive experience in risk management and capital markets, previously serving as Chief Risk Officer and Deputy CFO at AIG. Her expertise will support the strategic separation of Life & Retirement from AIG, enhancing asset management capabilities. This move is viewed positively by leadership as AIG prepares for an Initial Public Offering.
FAQ
What is the current stock price of American International Group (AIG)?
What is the market cap of American International Group (AIG)?
What does American International Group, Inc. (AIG) do?
In how many countries does AIG operate?
What recent strategic changes has AIG made?
How has AIG's property/casualty segment been performing?
What recent financial achievements has AIG reported?
What are the credit ratings for AIG's property/casualty subsidiaries?
Who are some of AIG's major reinsurance partners?
What is the significance of AIG's restructuring initiatives?
How does AIG manage risk and pricing in its insurance products?
What is AIG's approach to capital management?
