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, 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.
American International Group (AIG) reported third-quarter 2020 catastrophe losses of $790 million, including $185 million related to COVID-19, primarily affecting travel, event cancellations, and property sectors. Non-COVID-19 losses totaled $605 million due to windstorms and wildfires. AIG's CEO emphasized the company's strong balance sheet and effective risk management. Additionally, AIG updated its actuarial assumptions, resulting in a $7 million charge to net income, with lower interest rates impacting the Life & Retirement segment. AIG will report full financial results on November 5, 2020.
AIG announced plans to separate its Life & Retirement business to enhance shareholder value. This decision follows a comprehensive review led by the executive management team and approved by the AIG Board of Directors. The intention is to create two independent companies, each positioned for sustained growth. CEO Brian Duperreault emphasized the company’s previous efforts to de-risk AIG and strengthen its capital. However, the separation is still subject to regulatory approvals and various conditions, with no specific timeline or terms outlined yet.
American International Group (AIG) has announced significant changes in its leadership team, naming Peter S. Zaffino as the new Chief Executive Officer, effective March 1, 2021. Zaffino will also serve as a Director, succeeding Brian Duperreault, who becomes Executive Chairman. Douglas M. Steenland has been designated as Lead Independent Director. Zaffino, who has played a vital role in AIG's turnaround, expressed gratitude for the opportunity, while Duperreault praised Zaffino's vision and determination. The transition aims to bolster AIG's strategy and enhance its market position.
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