American International Group, Inc. - AIG STOCK NEWS

American International Group (AIG) has appointed Graham Fulcher as the new Chief Actuary for International General Insurance, effective Q1 2022. Mr. Fulcher, previously Chief Actuary at Chubb, will focus on pricing, reserving, and aligning actuarial objectives with AIG's strategies. CEO Jon Hancock emphasized that Fulcher's expertise will enhance AIG's risk management and underwriting excellence. AIG operates globally, providing a broad array of insurance products across 80 countries.

American International Group (AIG) and Blackstone have finalized their transaction involving Blackstone Real Estate Income Trust (BREIT) acquiring AIG's interests in a U.S. affordable housing portfolio. This deal aligns with BREIT's strategy to provide yield-oriented investments. AIG employees associated with this portfolio are given the opportunity to transition to the Blackstone-affiliated company managing these assets.

American International Group (NYSE: AIG) has announced the promotion of Rose Marie E. Glazer to Executive Vice President & Chief Human Resources Officer, effective January 1, 2022. Glazer, previously the Deputy General Counsel and Corporate Secretary, will report to Peter Zaffino, President & CEO, and will join AIG’s Executive Leadership Team. Glazer emphasized her commitment to ensuring AIG remains an attractive and inclusive workplace while continuing to support the company's turnaround efforts.

AIG has selected AWS as its preferred cloud provider to support its digital transformation strategy, 'AIG 200'. This initiative aims to modernize AIG's technology infrastructure and improve customer experiences for its 90 million policyholders. AIG intends to migrate most of its workloads to the cloud, enhancing operational efficiency and security. This partnership builds on a relationship that began in 2017 and will accelerate significantly over the next two years. AIG aims to leverage AWS's cloud capabilities to deliver better services and create long-term shareholder value.

American International Group (AIG) has announced the results of its cash offers to purchase various series of Notes, increasing the maximum purchase consideration from $1.0 billion to $1.14 billion. The Offers expired on November 17, 2021, with $2.18 billion of Notes validly tendered. A total of $682.48 million in combined principal has been accepted, and the settlement dates are November 19, 2021, for initial payments and November 23, 2021, for guaranteed deliveries. AIG did not accept Notes with lower acceptance priority levels.

American International Group (AIG) has announced pricing terms for its tender offers to purchase up to $1.0 billion in outstanding notes. The Offers will expire at 5:00 p.m. ET on November 17, 2021, and are not conditioned on a minimum principal amount being tendered. Each series of Fixed Spread Notes has specific Total Considerations ranging from £975.00 to $1,676.21, reflecting calculated yields based on reference securities. The Offers are subject to conditions, and the accepted notes will receive cash payments on specified settlement dates.

American International Group, Inc. (NYSE: AIG) announced plans to redeem all outstanding 5.60% Debentures due July 31, 2097, originally issued by SunAmerica, Inc.. The redemption will occur on December 8, 2021, with a total of $2,124,000 in principal outstanding as of November 2, 2021. Registered holders will receive a redemption price of $1,000 plus accrued interest up to the redemption date. AIG emphasized that this release does not serve as a notice of redemption and advised debenture holders to refer to notifications by the appointed trustee.

American International Group (AIG) has initiated 15 separate offers to purchase outstanding notes for a maximum cash amount of $1 billion, excluding accrued coupon payments. The purchase will adhere to established acceptance priority levels, with no proration for accepted notes. The offers will expire at 5:00 p.m. (Eastern time) on November 17, 2021. AIG may increase or waive the maximum purchase consideration at its discretion. Holders of notes must comply with specific tender procedures to qualify for the total consideration.