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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American International Group (AIG) announced the election of James Dunne III as an independent Director, effective December 1, 2023. Peter Zaffino, Chairman & CEO, AIG, expressed delight at Dunne's addition to the board, highlighting his financial and investment acumen. John Rice, Lead Independent Director, AIG, also welcomed Dunne, emphasizing his broad financial services expertise. Dunne, Vice Chairman and Senior Managing Principal of Piper Sandler, brings extensive executive leadership experience and a commitment to community service. He expressed excitement to join AIG's Board of Directors.
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American International Group, Inc. (NYSE: AIG) priced the secondary offering of Corebridge Financial, Inc. (NYSE: CRBG) common stock at $20.50 per share. AIG offered 35 million existing shares of CRBG, corresponding to approximately $718 million of gross proceeds. AIG also granted a 30-day option to the underwriter to purchase up to an additional 5.25 million shares. The net proceeds from the offering will go to AIG, which will remain a majority shareholder of Corebridge Financial upon completion of this offering.
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American International Group, Inc. (NYSE: AIG) has announced the launch of a secondary offering of Corebridge Financial, Inc. (NYSE: CRBG) common stock. AIG, as the selling stockholder, is offering 35 million existing shares of common stock of Corebridge, with a 30-day option to purchase up to an additional 5.25 million shares. AIG will remain a majority shareholder of Corebridge Financial upon completion of this offering. The last reported per share sale price of Corebridge Financial common stock was $21.03. J.P. Morgan is acting as the underwriter for the offering.
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American International Group, Inc. (NYSE: AIG) announced the appointment of Rose Marie Glazer as General Counsel, overseeing legal, compliance, regulatory, and government affairs functions. Ms. Glazer, an Executive Vice President, has demonstrated expertise in legal, business, and governance matters and has played a significant role in positioning AIG as a top-performing global insurer. She is a National Association of Corporate Directors (NACD) Directorship Certified and holds a law degree, cum laude, from Southern Methodist University School of Law.
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American International Group, Inc. (AIG) announced the pricing terms for its Tender Offer to purchase outstanding notes and debentures. The Tender Offer is for an aggregate purchase consideration of up to $1.5 billion, excluding Accrued Interest. AIG will accept for payment up to the Tender Cap Securities validly tendered and not validly withdrawn at or prior to the Early Participation Date, and has elected to have an early settlement. The Tender Offer will expire on December 6, 2023.
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American International Group, Inc. (AIG) announced the early results of its tender offer to purchase for cash the notes and debentures of the series listed. AIG has exercised its right to amend the terms of the Tender Offer to increase the aggregate purchase price to $1.5 billion. $3,350,031,000 aggregate principal amount of the Securities demoninated in U.S. dollars and €524,765,000 aggregate principal amount of the Securities demoninated in euro were validly tendered prior to or at the Early Participation Date and not validly withdrawn.
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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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FAQ
What is the current stock price of American International Group (AIG)?
The current stock price of American International Group (AIG) is $72.84 as of December 24, 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
45.44B
622.15M
0.26%
94.45%
1.61%
Insurance - Diversified
Fire, Marine & Casualty Insurance
United States of America
NEW YORK