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.
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RYZE Claim Solutions appoints Stuart Myers and Christopher Conti to its Board of Directors. Both experts in insurance and investments, they bring decades of leadership experience to the company.
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American International Group, Inc. (NYSE: AIG) announced that David McElroy will retire on May 1, 2024, for personal reasons. Mr. McElroy has been with AIG since 2018 and held various leadership positions. AIG's Chairman & CEO, Peter Zaffino, praised McElroy's contributions to improving underwriting performance and risk appetite.
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Corebridge Financial, Inc. (CRBG) completes the sale of its UK life insurance business to Aviva plc, enabling a strategic shift towards Life & Retirement products in the US.
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American International Group, Inc. (AIG) will announce its financial results for Q1 2024 on May 1, 2024, followed by a conference call on May 2, 2024. The press release and financial supplement will be available on AIG's website, with a live webcast and replay accessible to the public.
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AIG reported strong financial results for the fourth quarter and full year of 2023, with notable increases in net income, underwriting income, and APTI. General Insurance saw improvements in NPW, combined ratio, and APTI, while Life and Retirement showed growth in APTI. The company returned significant value to shareholders through stock repurchases and dividends. Strategic divestitures and successful secondary offerings contributed to AIG's positive performance in 2023.
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American International Group, Inc. (AIG) has announced the election of John (Chris) Inglis as an independent Director, effective March 1, 2024. Inglis is a former National Cyber Director and an advisor to President Joe Biden on cybersecurity. With a distinguished career in U.S. federal defense, public and private sector service, and academia, Inglis brings nearly five decades of experience in cyber intelligence and advanced technology to AIG's Board of Directors.
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American International Group, Inc. (AIG) has announced the redemption of all outstanding shares of its Series A 5.85% Non-Cumulative Perpetual Preferred Stock and corresponding Depositary Shares on March 15, 2024. The redemption price per share of Series A Preferred Stock will be $25,000, with 20,000 shares and 20,000,000 Depositary Shares outstanding as of January 31, 2024.
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AM Best has upgraded the Long-Term Issuer Credit Ratings of American International Group, Inc.'s property/casualty insurance subsidiaries to 'a+' (Excellent) and affirmed the Financial Strength Rating of A (Excellent). The group's balance sheet strength is assessed as very strong, with improving underwriting performance and strong reinsurance support. AIG PC's operating performance has shown a steady improving trend, and its business profile is favorable, with deep expertise in commercial lines and diverse distribution channels.
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American International Group, Inc. (AIG) will release its financial results for Q4 and full year 2023 on February 13, 2024. A conference call to review the results will be held on February 14, 2024. The webcast will be available to the public, with a replay available afterwards.
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American International Group, Inc. (NYSE: AIG) has closed a secondary offering of shares of Corebridge Financial, Inc. (NYSE: CRBG) common stock. AIG sold 35 million existing shares at a public offering price of $20.50 per share, with a 30-day option to the underwriter to purchase up to an additional 5.25 million shares. The proceeds to AIG after deducting expenses were approximately $712 million. AIG remains a majority shareholder of Corebridge Financial.
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FAQ
What is the current stock price of American International Group (AIG)?
The current stock price of American International Group (AIG) is $73.34 as of December 26, 2024.
What is the market cap of American International Group (AIG)?
The market cap of American International Group (AIG) is approximately 45.4B.
What does American International Group, Inc. (AIG) do?
AIG is a multinational finance and insurance corporation offering a wide array of insurance products, including property, casualty, and life insurance, through its subsidiaries.
In how many countries does AIG operate?
AIG operates in over 80 countries and jurisdictions around the world.
What recent strategic changes has AIG made?
AIG recently spun off its life insurance operations into Corebridge Financial, retaining a majority stake. It also executed several capital management actions and completed the deconsolidation of Corebridge Financial.
How has AIG's property/casualty segment been performing?
AIG's property/casualty segment has shown strong balance sheet strength and improving underwriting performance, benefiting from favorable business profiles and strong reinsurance support.
What recent financial achievements has AIG reported?
AIG reported significant profitability with improvements in underwriting income, strong investment income, and strategic capital management actions, including substantial share repurchases and debt reduction.
What are the credit ratings for AIG's property/casualty subsidiaries?
AM Best recently upgraded AIG's property/casualty subsidiaries' Long-Term Issuer Credit Ratings to 'a+' (Excellent) and affirmed the Financial Strength Rating of A (Excellent).
Who are some of AIG's major reinsurance partners?
AIG benefits from strong reinsurance support from highly rated reinsurers, which contributes to its robust capital position and operational stability.
What is the significance of AIG's restructuring initiatives?
AIG's restructuring initiatives, including the spin-off of Corebridge Financial, aim to streamline operations, enhance financial flexibility, and position the company for future growth and profitability.
How does AIG manage risk and pricing in its insurance products?
AIG employs numerous underwriting and risk management initiatives, along with positive pricing momentum across key business lines, to manage risk and ensure competitive and profitable product pricing.
What is AIG's approach to capital management?
AIG focuses on returning value to shareholders through share repurchases and dividends, managing financial debt, and executing strategic transactions to optimize its capital structure.
American International Group, Inc.
NYSE:AIG
AIG Rankings
AIG Stock Data
45.43B
622.15M
0.26%
94.45%
1.61%
Insurance - Diversified
Fire, Marine & Casualty Insurance
United States of America
NEW YORK