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 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.
American International Group (NYSE: AIG) has appointed
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.
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