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American International Group, Inc. - AIG STOCK NEWS

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.

News

AIG Names Christopher Schaper Global Chief Underwriting Officer

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AIG: Christopher Schaper named Global Chief Underwriting Officer, effective after Validus Re sale. Schaper to report to AIG CEO Zaffino. Schaper brings three decades of experience in insurance and reinsurance industries. AIG aims for sustained improvements in financial results and underwriting excellence.
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AIG to Report Second Quarter 2023 Financial Results on August 1, 2023, and Host Conference Call on August 2

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American Financial Group and American International Group Announce Completion of AFG’s Purchase of Crop Risk Services from AIG

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American Financial Group (AFG) has completed the acquisition of Crop Risk Services (CRS) from American International Group (AIG). CRS is the seventh largest provider of multi-peril crop insurance in the US. Great American Insurance Group, a subsidiary of AFG, will remain the fifth largest provider of multi-peril crop insurance in the US.
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Transaction Closes between AIG and Stone Point to Form High Net Worth MGA Private Client Select (PCS)

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AIG has successfully closed its agreement with Stone Point Capital to form an independent Managing General Agency called Private Client Select Insurance Services. This move will specialize in the High Net Worth and Ultra High Net Worth markets.
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Sabra Purtill Named Permanent CFO of AIG

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AIG Announces Closing of Secondary Offering of Corebridge Financial, Inc. Common Stock

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AIG has announced the closing of its secondary offering of shares of Corebridge Financial, Inc. common stock. AIG sold 74.75 million existing shares at a public offering price of $16.25 per share, raising approximately $1.2 billion in gross proceeds.
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AIG Announces Pricing of Secondary Offering of Corebridge Financial, Inc. Common Stock

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AIG has priced the secondary offering of Corebridge Financial common stock at $16.25 per share, with an expected closing date of June 12, 2023. AIG is offering 65 million existing shares, corresponding to approximately $1.1 billion of gross proceeds. Net proceeds will go to AIG. J.P. Morgan, Morgan Stanley, BofA Securities, and Piper Sandler are acting as bookrunners for the offering.
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AIG Announces Launch of Secondary Offering of Corebridge Financial, Inc. Common Stock

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AIG announces secondary offering of Corebridge Financial common stock, offering 65 million existing shares with an option to purchase an additional 9.75 million shares. Net proceeds will go to AIG.
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Corebridge Financial Declares Special Dividend of $0.62 Per Share

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AIG to Sell Validus Re to RenaissanceRe

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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.

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American International Group, Inc.

NYSE:AIG

AIG Rankings

#291 Ranked by Market Cap
#1323 Ranked by Dividends

AIG Stock Data

47.66B
622.19M
0.26%
94.1%
1.33%
Insurance - Diversified
Fire, Marine & Casualty Insurance
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United States of America
NEW YORK