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 Dana E. Ripley as Vice President, Global Head of Media & External Communications. Based in New York, Ripley reports to Lucy Fato, Executive Vice President. This newly created role will focus on effectively communicating AIG's strategy and value proposition to external stakeholders. Ripley brings extensive experience from previous roles at U.S. Bank and Voya Financial. The company continues to prioritize enhancing its brand image and strategic communications as it evolves into a top-performing insurance franchise.
American International Group (NYSE: AIG) announced a reminder to holders of outstanding warrants set to expire on January 19, 2021. These warrants allow for the purchase of AIG Common Stock at an exercise price of $42.2282 per share. Trading for the warrants will be suspended on the NYSE after January 13, 2021. As of December 31, 2020, there were 55,940,355 warrants outstanding, with each warrant representing the right to purchase 1.067 shares of AIG Common Stock. Unexercised warrants will expire and become void after the deadline.
American International Group (AIG) announced plans to redeem all outstanding 3.300% Notes Due 2021 on February 1, 2021. The redemption price will equal 100% of the principal amount, plus accrued interest. As of December 30, 2020, there was $1.5 billion in aggregate principal amount of these Notes outstanding. The announcement includes forward-looking statements regarding the completion of the redemption, which may differ from actual results due to various factors. AIG is a leading global insurance organization providing a variety of financial services.
American International Group, Inc. (AIG) announced adjustments to the outstanding warrants expiring January 19, 2021. The warrant exercise price is reduced from $42.4151 to $42.2282, while the number of shares receivable increases from 1.062 to 1.067. These changes take effect on December 14, 2020, following a $0.32 per share dividend declared on November 5, 2020, payable on December 28, 2020. AIG provides diverse insurance and financial services worldwide, with common stock listed on the NYSE.
AIG Life & Retirement has appointed Todd Solash as Chief Executive Officer for both Individual Retirement and Life Insurance, effective immediately. This strategic move aims to enhance leadership and innovation within the company. Under Solash, who joined AIG in 2017, the division seeks to adapt its offerings to meet evolving customer needs. Kevin Hogan, CEO of Life & Retirement, praised Solash’s track record in improving customer experiences and maintaining operational discipline despite market challenges.
AIG Retirement Services has unveiled Total Retirement Services, an integrated solution merging defined contribution (DC) and defined benefit (DB) plans for employees and employers. This innovation offers participants a unified view of retirement savings and pensions through a single platform, aiding informed decision-making.
Gilliane Isabelle, Chief Distribution Officer, highlights its role in enhancing employee well-being and easing employer burdens regarding plan management. Supported by Findley for DB administration, AIG manages over $100 billion in assets.
American International Group (AIG) announced that Mark Lyons, CFO, and Christopher Schaper, CEO of AIG Re, will participate in a fireside chat at the UBS Virtual Specialty Insurance/Reinsurance Conference on December 15, 2020, at 1:00 p.m. ET. The live webcast is open to the public and accessible via AIG's Investors section, with a replay available afterward. AIG is a leading global insurance organization, providing diverse insurance products and financial services across more than 80 countries.
American International Group (AIG) has declared a quarterly cash dividend of $0.32 per share on AIG Common Stock, payable on December 28, 2020. The record date for stockholders is December 14, 2020. Additionally, a cash dividend of $365.625 per share on AIG Series A 5.85% Non-Cumulative Perpetual Preferred Stock will be paid on December 15, 2020, to holders of record as of November 30, 2020. This release also mentions adjustments to the exercise price of outstanding Warrants, to be calculated around December 10, 2020.
American International Group (AIG) reported its third-quarter results for 2020, showing a net income of $281 million and earnings per diluted share of $0.32, down from $648 million and $0.72, respectively, in the same period last year. The General Insurance adjusted pre-tax income fell to $416 million, while Life and Retirement saw an increase to $975 million. The combined ratio for General Insurance worsened to 107.2. AIG's liquidity improved to approximately $10.7 billion, reflecting a stronger financial position amid challenges from COVID-19 and natural disasters.
AM Best has reaffirmed the Long-Term Issuer Credit Rating (ICR) of 'bbb' for American International Group, Inc. (AIG), with no changes following its announced separation of its life and retirement business. AIG's Financial Strength Ratings (FSR) for both property/casualty subsidiaries and Life & Retirement Group remain at 'A' (Excellent) with stable outlooks. This strategic move aims to streamline operations and enhance shareholder value, as AIG has successfully improved its operational profile through various risk management strategies.
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