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.
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.
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.
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