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 (NYSE: AIG) has appointed Sabra Purtill as Executive Vice President and Chief Risk Officer, effective immediately. She has been serving as interim Chief Risk Officer since February 2021. Purtill will report directly to CEO Peter Zaffino and join the AIG Executive Leadership Team. Her role entails overseeing AIG's corporate risk management strategy, focusing on adapting to emerging risks like climate change and cyber threats. Purtill brings over 30 years of experience in the insurance industry, previously serving as AIG’s Deputy Chief Financial Officer.
Touchstone Investments has successfully acquired select assets from AIG Life & Retirement's Retail Mutual Funds business, effective July 16, 2021. This acquisition enhances Touchstone's assets under management to $35.9 billion and introduces two new mutual funds. The AIG Funds, totaling $6.8 billion, were reorganized into existing or new Touchstone funds. Fort Washington Investment Advisors will sub-advise the new Touchstone funds, raising their assets under management to $78.5 billion. This strategic move is aimed at increasing access to institutional asset management for a diverse investor base.
American International Group (AIG) will release its financial results for Q2 2021 on August 5, 2021, after market close. AIG will also conduct a conference call on August 6, 2021, at 8:30 a.m. ET to discuss these results. Both the press release and financial supplement will be accessible via the Investors section of AIG's website. AIG operates globally, offering a wide array of insurance and financial services to clients in approximately 80 countries. For more details, visit www.aig.com.
American International Group (AIG) and Blackstone have announced a definitive agreement for Blackstone to acquire a 9.9% equity stake in AIG's Life & Retirement business for $2.2 billion. AIG will also establish a long-term strategic asset management relationship with Blackstone to manage $50 billion of their investment portfolio, growing to $92.5 billion. Additionally, Blackstone Real Estate Income Trust will acquire AIG's U.S. affordable housing portfolio for approximately $5.1 billion. Expected transaction closures are set for Q3 and Q4 of 2021, respectively.
American International Group (NYSE: AIG) has announced the final results of its cash tender offers and consent solicitations for various outstanding notes, initiated on May 11, 2021. The offers, targeting SunAmerica and AIG Life Holdings notes, concluded on June 30, 2021. AIG accepted all validly tendered notes, with total consideration payable on July 1, 2021. Notably, AIG purchased approximately $6.7 million of SunAmerica debentures, while other series saw minimal participation. The press release clarifies that AIG has waived certain conditions related to the tender offers.
American International Group (AIG) released its inaugural Environmental, Social, and Governance (ESG) Report today, outlining the company's commitment to sustainability and corporate citizenship. CEO Peter Zaffino emphasized the importance of transparency and accountability in AIG's global operations, which span approximately 80 countries. The report details AIG's efforts in sustainability, diversity, equity, and inclusion, and aligns with recognized frameworks like TCFD and SASB. This initiative marks a significant step in AIG's long-term strategy to enhance environmental impact and foster positive change.
On May 11, 2021, AIG initiated cash tender offers and consent solicitations for specific outstanding notes, extending deadlines for holders of the SunAmerica Notes to deliver consents until June 30, 2021. AIG requires less than 1% of the SunAmerica Notes to proceed with proposed amendments. Successful completion of the consent solicitations is crucial for holders to receive a $5 payment per $1,000 of consenting notes. AIG has extended deadlines several times, and these offers are not conditioned on a minimum principal amount of notes being tendered.
On May 11, 2021, AIG announced it commenced cash tender offers and consent solicitations for certain outstanding notes, extending the deadlines for holders of SunAmerica Notes to deliver consents until June 28, 2021. The Tender Offers will encompass various series of notes, with AIG emphasizing that payment of the Total Consideration will be made for valid tenders received by the deadline. The company has engaged dealer managers and a tender agent for this process. AIG warned that these offers are subject to conditions and may be altered or terminated.
On May 11, 2021, American International Group (NYSE: AIG) initiated cash tender offers and consent solicitations for several outstanding notes. The process includes an offer for notes from American General Corporation and SunAmerica Inc., alongside amendments to their indentures. AIG has extended the deadlines for these offers multiple times, now set to June 22, 2021. Successful solicitations for Series B and Series A Notes have been announced, allowing holders to receive consent payments if amendments are approved. AIG has retained Credit Suisse and J.P. Morgan as dealer managers for this process.
On May 11, 2021, American International Group (NYSE: AIG) launched cash tender offers and consent solicitations for several outstanding notes, including Series A and Series B Junior Subordinated Debentures. The announcements included the successful completion of consent solicitations for the Series A and Series B Notes. AIG has extended the consent solicitation period for the SunAmerica Notes until June 15, 2021, allowing holders to deliver consents or tender their notes for purchase. AIG will also pay fee incentives to brokers for successful tenders.
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