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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AIG: Roshan Navagamuwa Named EVP and Chief Information Officer, John Repko to Step Down. Roshan Navagamuwa joins AIG as EVP and Chief Information Officer, effective January 1, 2024. He will oversee AIG’s global technology and cybersecurity strategy, core infrastructure, and cloud strategy. John Repko, the current CIO, will transition to a Senior Advisor role. Navagamuwa brings experience from CVS Health and Aon's Global IT division.
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AIG Closes Secondary Offering of Corebridge Financial, Inc. (CRBG) Common Stock, Raises $1.0 Billion: American International Group, Inc. (NYSE: AIG) has successfully completed the secondary offering of 50 million shares of Corebridge Financial, Inc. (NYSE: CRBG) common stock at a public offering price of $20.50 per share, with the option for underwriters to purchase an additional 7.5 million shares. The offering raised approximately $1.0 billion for AIG, with all net proceeds going to the company. Goldman Sachs & Co. LLC and J.P. Morgan acted as underwriters for the offering.
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American International Group, Inc. (NYSE: AIG) has initiated a cash tender offer for 13 series of its outstanding debt securities. The tender offer is subject to various conditions and has a Tender Cap of $1.0 billion. The early participation date is November 20, 2023, and the expiration date is December 6, 2023.
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American International Group, Inc. (NYSE: AIG) has priced the secondary offering of Corebridge Financial, Inc. (NYSE: CRBG) common stock at $20.50 per share. AIG is selling 50 million existing shares, raising approximately $1.0 billion in proceeds. The offering is expected to close on November 8, 2023.
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American International Group, Inc. (AIG) has announced the launch of a secondary offering of Corebridge Financial, Inc. (CRBG) common stock. AIG is offering 50 million existing shares of common stock, with the option for underwriters to purchase an additional 7.5 million shares. The net proceeds from the offering will go to AIG. The last reported per share sale price of Corebridge Financial's common stock was $21.08 on November 3, 2023. Goldman Sachs & Co. LLC and J.P. Morgan are acting as the underwriters for the offering.
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American International Group (AIG) reported a net income per diluted share of $2.81 and an adjusted after-tax income per diluted share of $1.61 for the third quarter of 2023. General Insurance combined ratio improved to 90.5%, and accident year combined ratio improved to 86.3%. General Insurance net premiums written increased 1% YoY. Life and Retirement adjusted pre-tax income was $971 million, up 24% YoY. AIG returned over $1 billion to shareholders through stock repurchases and dividends.
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American International Group (AIG) has completed the sale of Validus Re to RenaissanceRe for a total consideration of $3.3 billion in cash and approximately $275 million in RenaissanceRe common shares. AIG will retain Talbot Underwriting and Western World.
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Corebridge Financial, Inc. (NYSE: CRBG) has declared a special dividend of $1.16 per share payable on November 22, 2023. The dividend will be paid to common shareholders of record on November 13, 2023. The total amount of the special dividend payment will be around $730 million.
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Corebridge Financial, Inc. has completed the sale of Laya Healthcare Limited to a subsidiary of AXA S.A. Laya healthcare is the second largest health insurance provider in Ireland and offers various health insurance products and services, as well as life insurance and travel insurance.
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David McElroy appointed Chairman of General Insurance, Don Bailey appointed CEO of North America Insurance, and Jon Hancock appointed CEO of International Insurance.
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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 $76.06 as of November 22, 2024.
What is the market cap of American International Group (AIG)?
The market cap of American International Group (AIG) is approximately 47.7B.
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
47.66B
622.19M
0.26%
94.1%
1.33%
Insurance - Diversified
Fire, Marine & Casualty Insurance
United States of America
NEW YORK