American International Group, Inc. - AIG STOCK NEWS

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.

American International Group (AIG) reported strong financial results for Q3 2021, with net income attributable to common shareholders rising to $1.7 billion ($1.92 per share) from $281 million ($0.32 per share) in the prior year. General Insurance net premiums written grew 11% due to a 17% increase in Commercial Lines. The combined ratio improved by 7.5 points to 99.7%. AIG also completed a $2.2 billion equity stake sale as part of its Life and Retirement separation strategy. Adjusted after-tax income per diluted share increased by 20% to $0.97. The company ended Q3 with $5.3 billion in liquidity.

American International Group (AIG) and Blackstone have officially closed the transaction for Blackstone to acquire a 9.9% equity stake in AIG’s Life & Retirement business. Additionally, Blackstone will manage an initial $50 billion of AIG Life & Retirement’s investment portfolio.

This partnership aims to leverage Blackstone's investment expertise to enhance AIG's offerings in life insurance and retirement solutions, providing long-term value for shareholders.

American International Group (AIG) has announced significant leadership changes aimed at enhancing its operational performance and preparing its Life & Retirement business for a future IPO. Effective January 1, 2022, Mark Lyons will transition to Global Chief Actuary & Head of Portfolio Management, with Shane Fitzsimons appointed as CFO. Elias Habayeb becomes CFO for Life & Retirement, while Elaine Rocha assumes the role of Global Chief Investment Officer. Ted Devine joins as Global Head of AIG 200, focusing on modernization efforts. These changes are designed to enhance AIG's long-term profitability.

American International Group, Inc. (AIG) will announce its third-quarter financial results for the period ending September 30, 2021, following market closure on November 4, 2021. The press release and financial supplement will be accessible on AIG's official website. Additionally, AIG will host a public conference call on November 5, 2021, at 8:30 a.m. ET to discuss these results, with a replay available afterward. AIG operates globally, offering various insurance and financial services in approximately 80 countries.