American Intl Group Inc Stock Price, News & Analysis

American International Group (AIG) announced that Mark Lyons, CFO, and Christopher Schaper, CEO of AIG Re, will participate in a fireside chat at the UBS Virtual Specialty Insurance/Reinsurance Conference on December 15, 2020, at 1:00 p.m. ET. The live webcast is open to the public and accessible via AIG's Investors section, with a replay available afterward. AIG is a leading global insurance organization, providing diverse insurance products and financial services across more than 80 countries.

American International Group (AIG) has declared a quarterly cash dividend of $0.32 per share on AIG Common Stock, payable on December 28, 2020. The record date for stockholders is December 14, 2020. Additionally, a cash dividend of $365.625 per share on AIG Series A 5.85% Non-Cumulative Perpetual Preferred Stock will be paid on December 15, 2020, to holders of record as of November 30, 2020. This release also mentions adjustments to the exercise price of outstanding Warrants, to be calculated around December 10, 2020.

American International Group (AIG) reported its third-quarter results for 2020, showing a net income of $281 million and earnings per diluted share of $0.32, down from $648 million and $0.72, respectively, in the same period last year. The General Insurance adjusted pre-tax income fell to $416 million, while Life and Retirement saw an increase to $975 million. The combined ratio for General Insurance worsened to 107.2. AIG's liquidity improved to approximately $10.7 billion, reflecting a stronger financial position amid challenges from COVID-19 and natural disasters.

AM Best has reaffirmed the Long-Term Issuer Credit Rating (ICR) of 'bbb' for American International Group, Inc. (AIG), with no changes following its announced separation of its life and retirement business. AIG's Financial Strength Ratings (FSR) for both property/casualty subsidiaries and Life & Retirement Group remain at 'A' (Excellent) with stable outlooks. This strategic move aims to streamline operations and enhance shareholder value, as AIG has successfully improved its operational profile through various risk management strategies.

American International Group (AIG) reported third-quarter 2020 catastrophe losses of $790 million, including $185 million related to COVID-19, primarily affecting travel, event cancellations, and property sectors. Non-COVID-19 losses totaled $605 million due to windstorms and wildfires. AIG's CEO emphasized the company's strong balance sheet and effective risk management. Additionally, AIG updated its actuarial assumptions, resulting in a $7 million charge to net income, with lower interest rates impacting the Life & Retirement segment. AIG will report full financial results on November 5, 2020.

AIG announced plans to separate its Life & Retirement business to enhance shareholder value. This decision follows a comprehensive review led by the executive management team and approved by the AIG Board of Directors. The intention is to create two independent companies, each positioned for sustained growth. CEO Brian Duperreault emphasized the company’s previous efforts to de-risk AIG and strengthen its capital. However, the separation is still subject to regulatory approvals and various conditions, with no specific timeline or terms outlined yet.

American International Group (AIG) has announced significant changes in its leadership team, naming Peter S. Zaffino as the new Chief Executive Officer, effective March 1, 2021. Zaffino will also serve as a Director, succeeding Brian Duperreault, who becomes Executive Chairman. Douglas M. Steenland has been designated as Lead Independent Director. Zaffino, who has played a vital role in AIG's turnaround, expressed gratitude for the opportunity, while Duperreault praised Zaffino's vision and determination. The transition aims to bolster AIG's strategy and enhance its market position.

American International Group (AIG) will release its third quarter financial results for the period ending September 30, 2020, on November 5, 2020, after market hours. The financial data will be accessible in the Investors section of AIG's website. Additionally, a conference call to discuss these results is scheduled for November 6, 2020, at 9:00 a.m. ET. This call will be publicly available via webcast.

AIG is a global leader in insurance, offering diverse financial services across over 80 countries.

AIG Life & Retirement has launched the Power Index Premier NY Index Annuity with Lifetime Income Builder, exclusively for New York residents. This product features a Guaranteed Living Benefit (GLB) rider, enabling guaranteed lifetime income growth for up to 15 years, even during market volatility. Research indicates that 70% of pre-retirees feel pessimistic about their financial futures. The annuity combines tax deferral, principal protection, and growth potential linked to major equity indices without direct market risk. AIG continues to innovate in retirement solutions.