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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.
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.
American International Group (AIG) celebrates Lucy Fato's recognition in the 2021 NACD Directorship 100 as a top corporate governance leader for the fourth consecutive year. Fato, AIG's Executive VP and General Counsel, is commended for her impactful work in corporate governance. Underlining her influence in the insurance sector, CEO Peter Zaffino acknowledged her commitment to ethics and transparency, benefiting AIG's stakeholders. The NACD Directorship 100 honors influential figures enhancing boardroom practices across the industry.
AIG Life & Retirement has appointed Bryan Pinsky as President of Individual Retirement and Tim Heslin as President of US Life Insurance. These leadership changes, effective immediately, are expected to enhance the company's offerings and improve customer experience. Both executives bring extensive experience from prior roles within AIG and other notable financial institutions. CEO Todd Solash praised their strategic insights and expertise, underscoring AIG's commitment to delivering quality financial services.
American International Group (NYSE: AIG) will redeem all outstanding 4.875% Notes Due 2022 on September 7, 2021, with $1.5 billion principal amount still outstanding as of August 6, 2021. The redemption price will be based on the indenture governing the Notes, plus accrued interest up to the Redemption Date. AIG advises that this press release does not serve as a notice of redemption; holders should refer to the notice delivered by The Bank of New York Mellon. Forward-looking statements regarding the redemption process may differ from actual results due to uncertainty.
American International Group (AIG) reported strong Q2 2021 results with net income of $91 million, or $0.11 per share, recovering from a $7.9 billion loss in the prior year. General Insurance net premiums rose 24%, while Life and Retirement adjusted pre-tax income climbed 26% to $1.1 billion. AIG announced a $2.2 billion investment by Blackstone for a 9.9% equity stake in its Life and Retirement segment and plans to repurchase $2 billion in shares in H2 2021. Liquidity stood at $7.2 billion, with a dividend of $0.32 per share declared, payable on September 30, 2021.
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