STOCK TITAN

American International Group, Inc. - AIG STOCK NEWS

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.

Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.87%
Tags
none
-
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.36%
Tags
none
-
News
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
7.41%
Tags
none
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.08%
Tags
none
-
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.21%
Tags
management
-
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.21%
Tags
none
News
Rhea-AI Summary

American International Group (AIG) announced the redemption of its 1.500% Notes Due 2023, totaling €750 million, effective May 10, 2022. Registered holders will receive a redemption price per €1,000 principal, which includes accrued interest up to the redemption date. This announcement does not serve as a notice of redemption; holders should refer to the trustee, The Bank of New York Mellon, for further details. AIG also cautioned that future results may differ from expectations due to inherent uncertainties.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.89%
Tags
none
-
Rhea-AI Summary

American International Group (AIG) will announce its financial results for Q1 2022 on May 3, 2022, after market closure. Following the release, a conference call is scheduled for May 4, 2022, at 8:30 a.m. ET for a comprehensive review. AIG, listed on the NYSE under the symbol AIG, provides a diverse range of insurance and financial services globally, aiming to protect assets and ensure retirement security for its clients.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.4%
Tags
conferences earnings
-
Rhea-AI Summary

American International Group (AIG) announced the conclusion of its cash purchase Offers for Notes, raising the Maximum Purchase Consideration from $6 billion to $7.06 billion. The Offers, which expired on April 6, 2022, resulted in a substantial $10.95 billion in Notes validly tendered. AIG accepted $6.80 billion in Notes for purchase, primarily from series of Acceptance Priority Levels 1-14 and 16. Holders of accepted Notes will receive cash payments on the Initial Settlement Date of April 8, 2022. The press release is not an offer to purchase or sell securities.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.24%
Tags
none
Rhea-AI Summary

American International Group (AIG) has announced the pricing terms for its tender offers to purchase outstanding notes totaling up to $6 billion. The offers include several series of Fixed Spread Notes, with detailed terms provided in the Offer to Purchase and related documents. The expiration for these offers is set for 5:00 p.m. on April 6, 2022, with additional deadlines for guaranteed delivery. Key financial metrics include various Total Considerations based on the series of notes, highlighting investments across different maturity dates.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.02%
Tags
none

FAQ

What is the current stock price of American International Group (AIG)?

The current stock price of American International Group (AIG) is $72.69 as of December 20, 2024.

What is the market cap of American International Group (AIG)?

The market cap of American International Group (AIG) is approximately 44.8B.

What does American International Group, Inc. (AIG) do?

AIG is a multinational finance and insurance corporation offering a wide array of insurance products, including property, casualty, and life insurance, through its subsidiaries.

In how many countries does AIG operate?

AIG operates in over 80 countries and jurisdictions around the world.

What recent strategic changes has AIG made?

AIG recently spun off its life insurance operations into Corebridge Financial, retaining a majority stake. It also executed several capital management actions and completed the deconsolidation of Corebridge Financial.

How has AIG's property/casualty segment been performing?

AIG's property/casualty segment has shown strong balance sheet strength and improving underwriting performance, benefiting from favorable business profiles and strong reinsurance support.

What recent financial achievements has AIG reported?

AIG reported significant profitability with improvements in underwriting income, strong investment income, and strategic capital management actions, including substantial share repurchases and debt reduction.

What are the credit ratings for AIG's property/casualty subsidiaries?

AM Best recently upgraded AIG's property/casualty subsidiaries' Long-Term Issuer Credit Ratings to 'a+' (Excellent) and affirmed the Financial Strength Rating of A (Excellent).

Who are some of AIG's major reinsurance partners?

AIG benefits from strong reinsurance support from highly rated reinsurers, which contributes to its robust capital position and operational stability.

What is the significance of AIG's restructuring initiatives?

AIG's restructuring initiatives, including the spin-off of Corebridge Financial, aim to streamline operations, enhance financial flexibility, and position the company for future growth and profitability.

How does AIG manage risk and pricing in its insurance products?

AIG employs numerous underwriting and risk management initiatives, along with positive pricing momentum across key business lines, to manage risk and ensure competitive and profitable product pricing.

What is AIG's approach to capital management?

AIG focuses on returning value to shareholders through share repurchases and dividends, managing financial debt, and executing strategic transactions to optimize its capital structure.

American International Group, Inc.

NYSE:AIG

AIG Rankings

AIG Stock Data

44.79B
622.15M
0.26%
94.45%
1.61%
Insurance - Diversified
Fire, Marine & Casualty Insurance
Link
United States of America
NEW YORK