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.
AIG Retirement Services released a study highlighting that while 90% of public service employees are aware of the Public Service Loan Forgiveness (PSLF) program, 70% lack a comprehensive understanding of its requirements. Student loan debt is the primary financial stressor for these workers, with 78% identifying it as a major burden. Despite challenges, 68% are motivated to meet PSLF qualifications. AIG has launched tools to assist employees in navigating the forgiveness process, emphasizing the importance of financial security among public sector workers.
American International Group (AIG) announced that its Chief Financial Officer, Mark Lyons, and Deputy Chief Financial Officer, Sabra Purtill, will participate in a fireside chat at the Credit Suisse Virtual Financial Services Forum on February 26, 2021, at 10:30 a.m. ET. An audio webcast link will be available on AIG's Investors section of their website, and a replay will also be accessible there. AIG, listed under NYSE: AIG, is a leading global insurance organization providing a wide range of financial services across more than 80 countries.
American International Group (NYSE: AIG) reported significant financial losses for the fourth quarter and full year of 2020, with a net loss of $6 billion, or $6.88 per share. This was primarily driven by a $6.7 billion after-tax loss linked to the sale of Fortitude Group. Adjusted after-tax income dropped to $2.2 billion from $4.1 billion the previous year. Despite these losses, the company improved its risk profile and liquidity, with $10.5 billion in liquidity as of year-end. A quarterly dividend of $0.32 per share has been declared, payable on March 30, 2021.
AIG Life & Retirement has entered into a definitive agreement with Touchstone Investments for the acquisition of certain assets from AIG's Retail Mutual Funds business. This transaction involves reorganizing twelve mutual funds, which manage approximately $7.5 billion in assets, into Touchstone funds, while six funds will be liquidated. The acquisition is expected to close in mid-2021, pending shareholder approval. After the deal, Touchstone will manage over $30 billion in assets. AIG retains its management platform for variable insurance products.
Touchstone Investments has agreed to acquire select assets from AIG Life & Retirement's Retail Mutual Funds business, managing $7.8 billion in assets as of December 31, 2020. The deal involves 12 funds with approximately $7.5 billion in assets, which will be merged into existing or newly created Touchstone funds. This acquisition aims to enhance Touchstone's assets under management and introduce new funds. The transaction is expected to close in mid-2021, pending shareholder approval.
AIG Retirement Services has been appointed as the exclusive retirement plan provider for Care New England, managing over $400 million in retirement assets for its 7,000 employees. This partnership allows for the consolidation of Care New England's 403(b) and 457(b) plans onto a single platform, enhancing the user experience for employees. AIG will utilize its FutureFIT® and SponsorFIT® technologies to provide personalized retirement planning and data analytics solutions, aiming to improve participant outcomes and drive employee engagement.
American International Group (AIG) will release its financial results for Q4 and the full year ending December 31, 2020, after market close on February 16, 2021. AIG's financial report and supplement will be available on their website. A conference call to discuss these results will take place on February 17, 2021, at 8:30 a.m. ET, accessible via their website. AIG will present revised historical segment results for 2018 through Q3 2020. AIG operates a global insurance business, offering a variety of property casualty and life insurance products.
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.
FAQ
What is the current stock price of American International Group (AIG)?
What is the market cap of American International Group (AIG)?
What does American International Group, Inc. (AIG) do?
In how many countries does AIG operate?
What recent strategic changes has AIG made?
How has AIG's property/casualty segment been performing?
What recent financial achievements has AIG reported?
What are the credit ratings for AIG's property/casualty subsidiaries?
Who are some of AIG's major reinsurance partners?
What is the significance of AIG's restructuring initiatives?
How does AIG manage risk and pricing in its insurance products?
What is AIG's approach to capital management?
