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.
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.
AM Best has affirmed the Long-Term Issuer Credit Rating of “bbb” and a Financial Strength Rating of A (Excellent) for American International Group, Inc. (AIG) and its subsidiaries. The outlook remains stable. AIG's risk-adjusted capital level is at the strongest level, though historical performance has lagged peers due to poor underwriting in its property/casualty (P/C) segment. However, recent improvements and better risk management strategies are noted. The planned separation of AIG's life and retirement business is not expected to affect ratings in the near term, with positive capital and liquidity outlooks.
American International Group, Inc. (AIG) announced today that Mark Lyons, AIG’s Chief Financial Officer, will engage in a virtual fireside chat at the Barclays Global Financial Services Conference on September 13, 2021, at 1:15 p.m. ET. An audio webcast will be accessible via AIG’s website, with a replay available afterward. AIG, listed on the NYSE under the symbol AIG, is a global leader in insurance, offering a range of products and services across approximately 80 countries.
J.P. Morgan Asset Management announced the launch of SmartRetirement Plus, a retirement income solution aimed at American workers. This initiative combines J.P. Morgan's investment funds with AIG Life & Retirement's IncomEdge Control annuity to provide participants with insights into their retirement income needs. The offering allows flexible allocation decisions to suit individual spending needs and aims to address concerns about outliving retirement savings. The solution will be available digitally, enhancing participants' ability to manage their retirement funds effectively.
American International Group (NYSE: AIG) has announced that Peter Zaffino will take on the role of Chairman of the Board of Directors effective January 1, 2022. He currently serves as President and CEO, a position he transitioned to in March 2021. The change follows Brian Duperreault's retirement from the Board at the end of 2021. The Board expresses strong confidence in Zaffino's leadership to drive AIG's transformation and growth strategy aimed at sustainable value creation.
American International Group (AIG) announced that its President & CEO, Peter Zaffino, will participate in a fireside chat at the KBW Virtual Insurance Conference on September 9, 2021, at 4:30 p.m. ET. An audio webcast link will be accessible in the Investors section of AIG's website, where a replay will also be available. AIG offers a broad range of insurance and financial services across approximately 80 countries, including property casualty insurance and retirement solutions, aiming to help customers manage risks and secure assets.
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