American Intl Group Inc Stock Price, News & Analysis

AIG announced significant progress on its Life and Retirement separation, establishing a standalone capital structure and publicly filing an S-1 registration. The company reported a net income of $4.3 billion, or $5.15 per diluted share, marking a year-on-year increase from $3.9 billion or $4.41. General Insurance combined ratio improved to 92.9%, while adjusted after-tax income per diluted share rose to $1.30, up 24%. AIG repurchased $1.4 billion of common stock and increased its repurchase authorization to $6.5 billion, reflecting strong shareholder returns. AIG also committed to achieving net zero greenhouse gas emissions by 2050.

American International Group (AIG) announced the appointment of Tom Bolt as Executive Vice President and Chief Risk Officer, effective immediately. He replaces Sabra Purtill, who now serves as Chief Investment Officer for AIG’s Life & Retirement business. Bolt, with over 35 years of experience, has been pivotal in AIG’s General Insurance turnaround since joining in 2018. Additionally, Kean Driscoll has been appointed Chief Underwriting Officer for General Insurance, effective immediately, further solidifying AIG's leadership as it navigates complex risk management challenges.

American International Group (NYSE: AIG) appointed Sabra Purtill as Executive Vice President and Chief Investment Officer of its Life & Retirement business, which will soon be rebranded as Corebridge Financial, Inc. Ms. Purtill has extensive experience in risk management and capital markets, previously serving as Chief Risk Officer and Deputy CFO at AIG. Her expertise will support the strategic separation of Life & Retirement from AIG, enhancing asset management capabilities. This move is viewed positively by leadership as AIG prepares for an Initial Public Offering.

American International Group (AIG) announced the redemption of its 1.500% Notes Due 2023, totaling €750 million, effective May 10, 2022. Registered holders will receive a redemption price per €1,000 principal, which includes accrued interest up to the redemption date. This announcement does not serve as a notice of redemption; holders should refer to the trustee, The Bank of New York Mellon, for further details. AIG also cautioned that future results may differ from expectations due to inherent uncertainties.

American International Group (AIG) will announce its financial results for Q1 2022 on May 3, 2022, after market closure. Following the release, a conference call is scheduled for May 4, 2022, at 8:30 a.m. ET for a comprehensive review. AIG, listed on the NYSE under the symbol AIG, provides a diverse range of insurance and financial services globally, aiming to protect assets and ensure retirement security for its clients.

American International Group (AIG) announced the conclusion of its cash purchase Offers for Notes, raising the Maximum Purchase Consideration from $6 billion to $7.06 billion. The Offers, which expired on April 6, 2022, resulted in a substantial $10.95 billion in Notes validly tendered. AIG accepted $6.80 billion in Notes for purchase, primarily from series of Acceptance Priority Levels 1-14 and 16. Holders of accepted Notes will receive cash payments on the Initial Settlement Date of April 8, 2022. The press release is not an offer to purchase or sell securities.

American International Group (AIG) has announced the pricing terms for its tender offers to purchase outstanding notes totaling up to $6 billion. The offers include several series of Fixed Spread Notes, with detailed terms provided in the Offer to Purchase and related documents. The expiration for these offers is set for 5:00 p.m. on April 6, 2022, with additional deadlines for guaranteed delivery. Key financial metrics include various Total Considerations based on the series of notes, highlighting investments across different maturity dates.

AIG Retirement Services has launched the FutureFIT® Wellness Check, an interactive tool designed to help retirement plan participants enhance their financial wellness. This assessment provides personalized action plans that cover budgeting, savings, debt management, and retirement planning for all eligible employees. Chief Distribution Officer Gilliane Isabelle emphasized AIG's commitment to improving retirement planning accessibility. The tool aims to boost employee engagement in financial planning by offering easily digestible education modules.