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, 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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AIG to report Q3 2023 financial results on Nov 1. Conference call on Nov 2. Webcast available. Replay also available.
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AIG announces Patricia Walsh as new EVP and General Counsel, effective Dec 1, 2023. Walsh will be responsible for legal, compliance, and regulatory functions, as well as government affairs. Positive impact expected on AIG's journey to becoming a top-performing company.
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AHI partner Bearn signs commercial partnership with AIG to acquire and streamline underwriting solutions. AIG reported over $50 billion in revenue in 2022. Bearn and AIG distribution to cover over 6 million lives across the USA and Canada. Bearn plans to launch the integrated platform in November 2023. Bearn rewards users with cash for achieving better health outcomes.
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Corebridge Financial, Inc. (NYSE: CRBG) sells its UK life insurance business to Aviva plc for £460 million in cash.
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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