Welcome to our dedicated page for American Intl Group news (Ticker: AIG), a resource for investors and traders seeking the latest updates and insights on American Intl Group stock.
American International Group, Inc. (NYSE: AIG) is a global insurance organization whose news flow centers on property and casualty insurance operations, capital allocation, strategic investments and leadership developments. This AIG news page aggregates company press releases and market updates so readers can follow how the organization describes its performance, strategy and governance over time.
Recent AIG news has included quarterly financial results for its general insurance business, highlighting underwriting income, combined ratios and adjusted earnings metrics. The company has also reported capital return actions such as cash dividends and share repurchases, as well as changes in the value and level of its ownership interest in Corebridge Financial, Inc. News items often detail how underwriting discipline, catastrophe-related charges, prior year development and investment income affect reported results.
AIG’s updates also cover strategic transactions and partnerships. These include agreements to acquire renewal rights for a majority of Everest Group Ltd.’s retail insurance portfolios worldwide, planned minority equity investments in Convex Group Limited and Onex Corporation, and the formation of Lloyd’s Syndicate 2479 with Amwins and funds managed by Blackstone. The company has also announced a strategic shareholding and long-term commercial partnership with Salford City FC, reflecting its involvement in a football club alongside its core insurance activities.
Corporate governance and leadership changes are another key theme in AIG’s news. Filings and releases have described amendments to by-laws, board changes, senior executive appointments and succession plans, including the announced intention of the current Chairman & CEO to transition to Executive Chair and retire as CEO, and the planned arrival of a President and CEO-elect. Investors, analysts and policyholders can use this page to review how AIG communicates its insurance operations, strategic initiatives, technology collaborations and leadership evolution.
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 (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.
American International Group, Inc. (NYSE: AIG) will disclose its fourth-quarter and full-year financial results for the year ending December 31, 2022 after market close on February 15, 2023. The company's press release and financial supplements will be accessible on the AIG Investors website. AIG will host a conference call on February 16, 2023 at 8:30 a.m. ET to review these results, which will be available for public access via the same Investors section on their website.
American International Group (AIG) announced that Shane Fitzsimons, Chief Financial Officer, is taking a temporary medical leave of absence effective immediately. Mark Lyons, former CFO, has been appointed as the Interim CFO while retaining his role as Executive Vice President, Global Chief Actuary, and Head of Portfolio Management. AIG is a major global insurance organization offering a variety of insurance and financial services in approximately 70 countries.