American Intl Group Inc Stock Price, News & Analysis

AIG Life & Retirement has appointed Bryan Pinsky as President of Individual Retirement and Tim Heslin as President of US Life Insurance. These leadership changes, effective immediately, are expected to enhance the company's offerings and improve customer experience. Both executives bring extensive experience from prior roles within AIG and other notable financial institutions. CEO Todd Solash praised their strategic insights and expertise, underscoring AIG's commitment to delivering quality financial services.

American International Group (NYSE: AIG) will redeem all outstanding 4.875% Notes Due 2022 on September 7, 2021, with $1.5 billion principal amount still outstanding as of August 6, 2021. The redemption price will be based on the indenture governing the Notes, plus accrued interest up to the Redemption Date. AIG advises that this press release does not serve as a notice of redemption; holders should refer to the notice delivered by The Bank of New York Mellon. Forward-looking statements regarding the redemption process may differ from actual results due to uncertainty.

American International Group (AIG) reported strong Q2 2021 results with net income of $91 million, or $0.11 per share, recovering from a $7.9 billion loss in the prior year. General Insurance net premiums rose 24%, while Life and Retirement adjusted pre-tax income climbed 26% to $1.1 billion. AIG announced a $2.2 billion investment by Blackstone for a 9.9% equity stake in its Life and Retirement segment and plans to repurchase $2 billion in shares in H2 2021. Liquidity stood at $7.2 billion, with a dividend of $0.32 per share declared, payable on September 30, 2021.

American International Group (NYSE: AIG) has appointed Sabra Purtill as Executive Vice President and Chief Risk Officer, effective immediately. She has been serving as interim Chief Risk Officer since February 2021. Purtill will report directly to CEO Peter Zaffino and join the AIG Executive Leadership Team. Her role entails overseeing AIG's corporate risk management strategy, focusing on adapting to emerging risks like climate change and cyber threats. Purtill brings over 30 years of experience in the insurance industry, previously serving as AIG’s Deputy Chief Financial Officer.

Touchstone Investments has successfully acquired select assets from AIG Life & Retirement's Retail Mutual Funds business, effective July 16, 2021. This acquisition enhances Touchstone's assets under management to $35.9 billion and introduces two new mutual funds. The AIG Funds, totaling $6.8 billion, were reorganized into existing or new Touchstone funds. Fort Washington Investment Advisors will sub-advise the new Touchstone funds, raising their assets under management to $78.5 billion. This strategic move is aimed at increasing access to institutional asset management for a diverse investor base.

American International Group (AIG) will release its financial results for Q2 2021 on August 5, 2021, after market close. AIG will also conduct a conference call on August 6, 2021, at 8:30 a.m. ET to discuss these results. Both the press release and financial supplement will be accessible via the Investors section of AIG's website. AIG operates globally, offering a wide array of insurance and financial services to clients in approximately 80 countries. For more details, visit www.aig.com.

American International Group (AIG) and Blackstone have announced a definitive agreement for Blackstone to acquire a 9.9% equity stake in AIG's Life & Retirement business for $2.2 billion. AIG will also establish a long-term strategic asset management relationship with Blackstone to manage $50 billion of their investment portfolio, growing to $92.5 billion. Additionally, Blackstone Real Estate Income Trust will acquire AIG's U.S. affordable housing portfolio for approximately $5.1 billion. Expected transaction closures are set for Q3 and Q4 of 2021, respectively.

American International Group (NYSE: AIG) has announced the final results of its cash tender offers and consent solicitations for various outstanding notes, initiated on May 11, 2021. The offers, targeting SunAmerica and AIG Life Holdings notes, concluded on June 30, 2021. AIG accepted all validly tendered notes, with total consideration payable on July 1, 2021. Notably, AIG purchased approximately $6.7 million of SunAmerica debentures, while other series saw minimal participation. The press release clarifies that AIG has waived certain conditions related to the tender offers.

American International Group (AIG) released its inaugural Environmental, Social, and Governance (ESG) Report today, outlining the company's commitment to sustainability and corporate citizenship. CEO Peter Zaffino emphasized the importance of transparency and accountability in AIG's global operations, which span approximately 80 countries. The report details AIG's efforts in sustainability, diversity, equity, and inclusion, and aligns with recognized frameworks like TCFD and SASB. This initiative marks a significant step in AIG's long-term strategy to enhance environmental impact and foster positive change.