American International Group, Inc. - AIG STOCK NEWS

American International Group (AIG) has appointed John Rice as a Director, effective March 17, 2022. Rice, aged 65, is the former Chairman of GE Gas Power and has held various leadership roles at General Electric, enhancing AIG's Board with his extensive global experience. Chairman and CEO Peter Zaffino expressed confidence in Rice's contributions towards AIG's strategic objectives. Rice's international dealings in markets such as Hong Kong and Singapore will provide valuable insights as AIG aims to enhance its market performance.

AIG Life & Retirement has launched the X5 Accelerator Annuity in collaboration with Annexus, enhancing retirement income planning for consumers. The annuity features a 35% income base bonus on purchase and a multiplier that can increase lifetime income by 250% during accumulation. Exclusive indices developed by PIMCO and Morgan Stanley provide growth potential while protecting the principal against market downturns. Additional benefits include enhanced inheritance options and increased annual income for policyholders confined to care facilities.

AIG has committed to achieving Net Zero GHG emissions across its global underwriting and investment portfolios by 2050, or sooner, complementing its earlier operational targets. The company will transition to 100% Renewable Energy for its operations by 2030. Immediate actions include halting investments in new coal energy projects and phased underwriting cessation for clients reliant on fossil fuels. AIG aims to align its targets with the Paris Agreement goals and will share science-based metrics for its sustainability roadmap soon.

AIG Life & Retirement has launched the "FutureU Scholars" program to enhance financial education and career readiness for students at Historically Black Colleges and Universities (HBCUs) and high schools in Greater Houston. The initiative includes scholarships of up to $5,000 for participating students and aims to reach over 5,000 students through financial literacy courses developed with EVERFI. Virtual events and resources will be provided to empower students in financial planning, budgeting, and career opportunities, demonstrating AIG's commitment to diversity, equity, and inclusion.

American International Group (NYSE: AIG) reported strong fourth quarter 2021 results with net income of $3.7 billion, or $4.38 per diluted share, reversing a net loss of $60 million in Q4 2020. General Insurance saw a 7% increase in net premiums written and a combined ratio improvement to 92.4%. Adjusted after-tax income rose 68% to $1.58 per share. For the full year, net income was $9.4 billion, driven by improved underwriting results and net investment gains. AIG returned $3.7 billion to shareholders through stock repurchases and dividends, with parent liquidity at $10.7 billion.

AIG Life & Retirement has released findings from the Americans Moving Forward survey, highlighting that 58% of respondents deem long-term financial planning increasingly important. The survey reveals that individuals prioritize saving for retirement (66%), debt repayment (65%), and emergency funds (63%). Notably, 91% value financial products providing lifelong income. Gender disparities were observed: 41% of men reported improved finances versus only 26% of women. Millennials showed the most optimism, with 48% feeling their quality of life improved over the past year.

AIG Retirement Services has been appointed as the exclusive retirement plan provider for Ontario County, New York, serving over 1,000 employees. The county offers a 457(b) deferred compensation plan and a 401(a) savings match plan, totaling approximately $100 million in assets. AIG has over 60 years of experience in assisting government workers with retirement planning. With more than $130 billion in total assets under administration, AIG supports around 2 million customers across 2,200 government entities.

AIG Life & Retirement has launched the Advanced Outcomes Annuity, a variable annuity product that combines growth potential with downside protection. This annuity features structured outcome investments developed with Milliman Financial Risk Management, allowing for greater growth without caps on returns. Financial professionals can utilize Capture-Reset-Reinvest flexibility to adjust investments as needed. With a six-year surrender period, the new annuity offers options for both growth and downside protection, enhancing investment flexibility for clients.

American International Group (NYSE: AIG) is set to report its financial results for the fourth quarter and full year ending December 31, 2021 on February 16, 2022, after market closure. AIG will provide a press release and financial supplement accessible on their website. Following this, a conference call will take place on February 17, 2022, at 8:30 a.m. ET to discuss the results, available via a public webcast.