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American International Group Inc (AIG)

AIG on New York Consolidated

66.54USD
20 Jan 2017
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$0.25 (+0.38%)
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Latest Key Developments (Source: Significant Developments)

AIG partners with Berkshire Hathaway unit on reinsurance agreement
Friday, 20 Jan 2017 08:02am EST 

American International Group Inc : AIG Partners with Berkshire Hathaway unit on reinsurance agreement . American International Group Inc - cedes 80pct of reserve risk on substantially all U.S. Commercial long-tail exposures for accident years 2015 and prior . American International Group - consideration for agreement is $9.8 billion payable by June 30, 2017, with interest at 4pct per annum from January 1, 2016 to date of payment . American International Group Inc - maintains control of claims handling and commitment to serving our customers . American International Group Inc - agreement will be accounted for in Q1 of 2017 as a retroactive reinsurance agreement . AIG - Nico is assuming 80% of net losses, net allocated loss adjustment expenses on subject reserves in excess of first $25 billion . Aig - entered into binding term sheet for an adverse development reinsurance agreement, with national indemnity company . AIG currently expects a material prior year adverse development charge in Q4 . AIG - aig will retain sole authority to handle and resolve claims, and nico has various access, association and consultation rights . AIG - consideration paid to nico will be placed into collateral trust account as security for NICO'S claim payment obligations to AIG operating subsidiaries.  Full Article

American international group announces rebranding of retail mutual fund family
Wednesday, 11 Jan 2017 08:00am EST 

American International Group Inc :Announced rebranding of retail mutual fund family to aig funds from Sunamerica Mutual Funds, effective Feb 28, 2017.  Full Article

AIG says targeting capital return of $25 bln in 2016-2017 - SEC filing
Friday, 18 Nov 2016 07:58am EST 

American International Group Inc : Sees 2017 book value per share growth (ex. Aoci and DTA) of 10 percent .Says targeting capital return of $25 billion in 2016-2017 - SEC filing.  Full Article

Omega Advisors Inc cuts share stake in Microsoft Corp, Alphabet, AIG
Monday, 14 Nov 2016 11:20am EST 

Omega Advisors Inc : Omega Advisors Inc takes share stake of 185,300 shares in Ctrip.com International Ltd - sec filing . Omega Advisors Inc dissolves share stake in Unitedhealth Group Inc . Omega Advisors Inc cuts share stake in Microsoft Corp by 31.5 percent to 1.1 million shares . Omega Advisors Inc cuts share stake in American International Group by 17.2 percent to 2.4 million shares . Omega Advisors Inc cuts share stake in Alphabet Inc's Class A capital stock by 38.7 percent to 161,156 . Omega Advisors Inc cuts share stake in MGM Resorts International by 23.1 percent to 2.3 million shares .Omega Advisors Inc - Change in holdings are as of September 30, 2016 and compared with the previous quarter ended as of June 30, 2016.  Full Article

AIG says "raised its property terrorism insurance limits globally to $1 bln"
Wednesday, 26 Oct 2016 08:10am EDT 

American International Group Inc : Says "has raised its property terrorism insurance limits globally to $1 billion" .Says "AIG's prior limits for property terrorism insurance was $250 million".  Full Article

AIG, Two Sigma and Hamilton Insurance Group launch Attune
Wednesday, 28 Sep 2016 08:13am EDT 

American International Group Inc : AIG, Two Sigma and Hamilton Insurance Group launch Attune - a data-enabled insurance platform serving small businesses .Terms of deal were not disclosed.  Full Article

Fitch affirms AIG's ratings outlook stable
Monday, 29 Aug 2016 05:11pm EDT 

Fitch :Fitch affirms AIG's ratings; outlook stable.  Full Article

AIG in talks to sell Lloyd's insurance operations to Canada Pension Fund- WSJ
Tuesday, 23 Aug 2016 01:21pm EDT 

: AIG in talks to sell Lloyd's insurance operations to Canada Pension Fund- WSJ, citing sources . Canada Pension Plan is in talks to acquire AIG's business at Lloyd's of London, related reinsurance company based in Bermuda- WSJ, citing sources . AIG-Llyod's transaction, if completed, could fetch insurance conglomerate hundreds of millions of dollars in proceeds- WSJ, citing sources Source (http://on.wsj.com/2bLw85R) ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Fitch: AIG ratings unaffected by UGC proposed sale announcement
Tuesday, 16 Aug 2016 12:07pm EDT 

Fitch On AIG : Fitch: AIG ratings unaffected by UGC proposed sale announcement . Fitch On AIG - Transaction will advance AIG's execution of strategic plans to streamline operations .Fitch On AIG - AIG will have a continued exposure to mortgage insurance market through investment in Arch.  Full Article

Arch Capital enters into bridge credit agreement with Credit Suisse AG, Cayman Islands branch, as administrative agent, initial lender
Tuesday, 16 Aug 2016 09:46am EDT 

Arch Capital Group : Plans to use net proceeds from bridge credit to pay cash consideration and fees of acquisition of AIG's mortgage-insurance unit . Entered into bridge credit agreement with Credit Suisse AG, Cayman Islands branch, as administrative agent and initial lender .Bridge credit agreement provides for commitments by the lenders thereunder to provide up to $1.375 billion of term loans.  Full Article

AIG to pay Buffett's Berkshire about $10 bln in insurance deal

NEW YORK American International Group Inc has agreed to pay roughly $10.2 billion to Warren Buffett's Berkshire Hathaway Inc to take on many long-term risks on U.S. commercial insurance policies it has already written.