American International Group, Inc. - AIG STOCK NEWS

American International Group, Inc. (NYSE: AIG) will announce its financial results for Q1 2023, ending March 31, 2023, after market close on May 4, 2023. Investors can access the announcement and supplementary financial information in the Investors section of AIG's website.

AIG will also conduct a conference call on May 5, 2023, at 8:30 a.m. ET to discuss these results, with a replay available shortly thereafter. AIG is a global leader in insurance, offering property casualty, life insurance, and retirement solutions across approximately 70 countries. More details about AIG can be found on their official site.

American International Group, Inc. (AIG) announced that William G. (Jerry) Jurgensen will retire from its Board of Directors and not seek re-election at the 2023 Annual Meeting in May. Jurgensen has been a board member since 2013 and previously served as CEO of Nationwide Financial Services from 2000 to 2009. AIG's Chairman and CEO, Peter Zaffino, expressed gratitude for Jurgensen's contributions over the last decade. AIG provides a range of insurance and financial services globally, operating in about 70 countries.

American International Group (AIG) has launched a newly redesigned website and a reimagined myAIG Broker Portal, marking a significant milestone in its digital transformation. The updated AIG.com offers enhanced navigation and access to critical financial information and services for brokers and stakeholders. The myAIG Broker Portal serves as a comprehensive digital gateway for brokers to access account information and key tools. The phased rollout for North America is set throughout 2023, with global expansion anticipated in early 2024, signifying AIG's commitment to improving efficiency and engagement in the insurance sector.

American International Group (AIG) announced the election of Diana Murphy and Vanessa Wittman as independent Directors effective March 16, 2023. AIG's Chairman & CEO, Peter Zaffino, expressed confidence in their extensive executive experience, which includes leading complex organizations and a strong commitment to community service. Diana Murphy has served as Managing Director at Rocksolid Holdings and held various executive roles, while Vanessa Wittman has been CFO at Glossier and other major firms. This move is intended to enhance AIG's governance and strategic direction as the company aims for top performance.

American International Group (AIG) reported robust financial results for the fourth quarter and full year 2022, showcasing the strongest underwriting profitability in General Insurance's history. Full-year underwriting income nearly doubled to $2.0 billion with a combined ratio of 91.9%. Life and Retirement sectors generated $2.1 billion in premiums, bolstered by Fixed Annuity sales. However, net income per diluted share decreased to $0.35 from $4.38 year-over-year, attributed to lower alternative investment income. AIG returned over $6.1 billion to shareholders through stock repurchases and dividends. Book value per share declined to $53.83 due to higher interest rates.

American International Group (NYSE: AIG) has entered into a memorandum of understanding with Stone Point Capital to establish an independent Managing General Agency (MGA) named Private Client Select Insurance Services (PCS), focusing on the High and Ultra High Net Worth markets.

The AIG Private Client Group will transition to this platform, enhancing its service offerings through third-party capital support. The partnership aims to leverage Stone Point's financial expertise and AIG's risk management capabilities.

The deal requires further negotiations and regulatory approvals, with transaction terms undisclosed.

AM Best has announced that the Credit Ratings of American International Group, Inc. (AIG) remain unchanged after the termination of Mark Lyons, the interim CFO, due to a breach of confidentiality. New appointments include Sabra Purtill as interim CFO and Turab Hussain as interim global chief actuary, both experienced leaders within AIG. AM Best anticipates that these leadership changes will allow AIG to maintain its business plans and complete its 2022 financial filings on schedule.

American International Group (NYSE: AIG) announced the termination of Mark Lyons as Interim Chief Financial Officer due to confidentiality violations. These issues were unrelated to AIG's financial statements or reporting. The company recognized Lyons' contributions with a settlement agreement. Sabra Purtill has been appointed as Interim CFO, bringing previous experience as Chief Investment Officer at Corebridge Financial and roles at AIG. Turab Hussain will serve as Interim Global Chief Actuary, previously Chief Risk Officer at AIG. AIG continues to offer diverse insurance and financial services globally.

American International Group (NYSE: AIG) announced the retirement of Board Director Thomas F. Motamed, effective immediately, due to health reasons. Motamed served as a director since January 2019 and brought extensive experience from his previous roles at CNA Financial Corporation and The Chubb Corporation. Peter Zaffino, Chairman & CEO, expressed gratitude for Motamed's contributions to AIG's transformation. AIG is a leading global insurance organization, providing various financial services across approximately 70 countries.