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American International Group Inc (AIG.N)

AIG.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

AIG Appoints Kathleen Zortman As President & Chief Executive Officer Of Private Client Group, General Insurance
Friday, 5 Apr 2019 09:00am EDT 

April 5 (Reuters) - American International Group Inc ::AIG APPOINTS KATHLEEN ZORTMAN AS PRESIDENT & CHIEF EXECUTIVE OFFICER OF PRIVATE CLIENT GROUP, GENERAL INSURANCE.AIG APPOINTS KATHLEEN ZORTMAN AS PRESIDENT & CHIEF EXECUTIVE OFFICER OF PRIVATE CLIENT GROUP, GENERAL INSURANCE.AIG - ZORTMAN WILL JOIN AIG IN COMING MONTHS FOLLOWING A TRANSITION PERIOD..AIG - ZORTMAN JOINS AIG FROM QBE INSURANCE GROUP WHERE SHE SERVED AS PRESIDENT OF PROPERTY & CASUALTY, NORTH AMERICA.  Full Article

Hydro details loss from cyber attack, says AIG lead insurer
Tuesday, 26 Mar 2019 08:20am EDT 

March 26 (Reuters) - Norsk Hydro Asa ::EXTRUDED SOLUTIONS, PRODUCTION IS NOW AT 70-80%, EXCEPT FOR BUILDING SYSTEMS BUSINESS UNIT, WHERE OPERATIONS REMAIN ALMOST AT A STANDSTILL.HYDRO HAS A SOLID CYBER RISK INSURANCE POLICY WITH RECOGNIZED INSURERS, WITH GLOBAL INSURER AIG AS LEAD.PRIMARY METAL: PRODUCTION RUNNING AS NORMAL, WITH HIGHER DEGREE OF MANUAL OPERATIONS.PRELIMINARY ESTIMATED FINANCIAL IMPACT FOR FIRST FULL WEEK FOLLOWING CYBER ATTACK IS AROUND NOK 300-350 MILLION ($35 MILLION-$41 MILLION), MAJORITY STEMMING FROM LOST MARGINS AND VOLUMES IN EXTRUDED SOLUTIONS BUSINESS.BASED ON CURRENT PROGRESS EXPECTATION IS FOR BUILDING SYSTEMS TO GRADUALLY RAMP UP PRODUCTION AND SHIPMENTS DURING WEEK..HAS NOW ENTERED RECOVERY PHASE FOLLOWING ATTACK, GRADUALLY RESTORING IT SYSTEMS IN A SAFE AND SECURE MANNER TO ENSURE PROGRESS TOWARD NORMAL BUSINESS WHILE LIMITING IMPACT FOR PEOPLE, OPERATIONS, CUSTOMERS, SUPPLIERS AND OTHER PARTNERS.  Full Article

AIG Reports Quarterly Loss Per Share Of $0.70
Wednesday, 13 Feb 2019 04:16pm EST 

Feb 13 (Reuters) - American International Group Inc ::QTRLY LOSS PER SHARE $0.70; QTRLY ADJUSTED AFTER-TAX LOSS PER SHARE $0.63.Q4 EARNINGS PER SHARE VIEW $0.42 -- REFINITIV IBES DATA.QTRLY NET PRE-TAX CATASTROPHE LOSSES OF $798 MILLION ($630 MILLION AFTER-TAX), CONSISTENT WITH PREVIOUSLY DISCLOSED RANGE.INCREASED SHARE REPURCHASE AUTHORIZATION TO $2.0 BILLION INCLUDING ABOUT $512 MILLION REMAINED UNDER PRIOR AUTHORIZATION.QTRLY TOTAL GENERAL INSURANCE NET PREMIUMS WRITTEN $6,424 MILLION, UP 9 PERCENT.QTRLY TOTAL GENERAL INSURANCE GROSS PREMIUMS WRITTEN $7,699 MILLION, UP 6 PERCENT.Q4 NEGATIVELY IMPACTED BY EQUITY & CREDIT MARKETS PERFORMANCE, CATASTROPHE LOSSES, MODEST NET UNFAVORABLE PRIOR YEAR LOSS RESERVE DEVELOPMENT.QTRLY TOTAL GENERAL INSURANCE UNDERWRITING LOSS $1,071 MILLION VERSUS LOSS OF $846 MILLION.CONTINUE TO EXPECT TO ACHIEVE UNDERWRITING PROFIT ENTERING 2019 IN GENERAL INSURANCE, TO REACH DOUBLE DIGIT RETURNS FOR CO IN 3 YRS.NET UNFAVORABLE PRIOR YEAR LOSS RESERVE DEVELOPMENT OF $365 MILLION IN Q4.AS OF DEC 31, BOOK VALUE PER COMMON SHARE WAS $65.04 VERSUS $66.23 AT SEPT 30.  Full Article

AIG Appoints Edward Levin As Global Head Of Accident & Health
Monday, 28 Jan 2019 09:30am EST 

Jan 28 (Reuters) - American International Group Inc ::AIG APPOINTS GLOBAL HEAD OF ACCIDENT & HEALTH.AIG - APPOINTMENT OF EDWARD LEVIN AS GLOBAL HEAD OF ACCIDENT & HEALTH, GENERAL INSURANCE.AIG - EDWARD LEVIN WILL START NEXT MONTH BASED IN LONDON.AIG - EDWARD LEVIN JOINS AIG FROM CHUBB.  Full Article

Soros Fund Management Cuts Share Stake In American Express, AIG
Wednesday, 14 Nov 2018 05:35pm EST 

Nov 14 (Reuters) - Soros Fund Management::SOROS FUND MANAGEMENT CUTS SHARE STAKE IN AMERICAN EXPRESS TO 70,557 SHARES FROM 169,539 SHARES.SOROS FUND MANAGEMENT CUTS SHARE STAKE IN AIG TO 94,160 SHARES FROM 259,497 SHARES.SOROS FUND MANAGEMENT CUTS SHARE STAKE IN SPOTIFY TO 273,100 SHARES FROM 728,700 SHARES.SOROS FUND MANAGEMENT CUTS SHARE STAKE IN U.S. BANCORP TO 160,595 SHARES FROM 488,076 SHARES.SOROS FUND MANAGEMENT CUTS SHARE STAKE IN AT&T TO 1.5 MILLION SHARES FROM 2 MILLION SHARES.SOROS FUND MANAGEMENT - CHANGE IN HOLDINGS ARE AS OF SEPTEMBER 30, 2018 AND COMPARED WITH THE PREVIOUS QUARTER ENDED AS OF JUNE 30, 2018.  Full Article

AIG Names John Repko As Executive Vice President, Chief Information Officer
Tuesday, 21 Aug 2018 08:45am EDT 

Aug 21 (Reuters) - American International Group Inc ::AIG NAMES JOHN P. REPKO AS EXECUTIVE VICE PRESIDENT, CHIEF INFORMATION OFFICER.AIG - SUCCEEDS MARTHA GALLO, WHO IS LEAVING AIG TO PURSUE OTHER INTERESTS.  Full Article

AIG Announces Closing Of Validus Acquisition
Wednesday, 18 Jul 2018 09:13am EDT 

July 18 (Reuters) - American International Group Inc ::AIG ANNOUNCES CLOSING OF VALIDUS ACQUISITION.  Full Article

AIG Names Lisa Sun As CEO Of AIG Insurance Company China Ltd
Thursday, 24 May 2018 08:15am EDT 

May 24 (Reuters) - American International Group Inc ::AIG NAMES LISA SUN AS CHIEF EXECUTIVE OFFICER OF AIG INSURANCE COMPANY CHINA, LTD..AIG - SUN IS REPLACING ERIC ZHENG WHO IS LEAVING AIG TO PURSUE OTHER OPPORTUNITIES.AIG - SUN JOINS AIG FROM MERCER, WHERE MOST RECENTLY SHE WAS CEO OF MERCER'S HONG KONG & SOUTH AND EAST ASIA ZONE.  Full Article

Carl Icahn Dissolves Share Stake In AIG, Paypal
Tuesday, 15 May 2018 04:39pm EDT 

May 15 (Reuters) - cc:CARL ICAHN DISSOLVES SHARE STAKE IN AIG - SEC FILING.CARL ICAHN DISSOLVES SHARE STAKE IN PAYPAL HOLDINGS INC.CARL ICAHN CUTS SHARED SHARE STAKE IN FREEPORT-MCMORAN INC BY 35 PERCENT TO 50.2 MILLION SHARES.CARL ICAHN TAKES SHARED SHARE STAKE OF 30.3 MILLION SHARES IN NEWELL BRANDS INC.CARL ICAHN CUTS SHARED SHARE STAKE IN MANITOWOC CO INC BY 36.3 PERCENT TO 1.7 MILLION SHARES.CARL ICAHN: CHANGE IN HOLDINGS ARE AS OF MARCH 31, 2018 AND COMPARED WITH THE PREVIOUS QUARTER ENDED AS OF DEC 31, 2017.  Full Article

AIG CEO Says expects underwriting profit by 2018 year-end
Thursday, 3 May 2018 08:59am EDT 

May 3 (Reuters) - American International Group Inc ::CEO SAYS EXPECTS UNDERWRITING PROFIT BY END OF 2018-CONF CALL.CEO SAYS EXPECTS TO REACH TOP QUARTILE BOOK VALUE GROWN AND RETURN ON EQUITY PERFORMANCE OVER TIME - CONF CALL.CEO SAYS COMPANY WILL REACH COMBINED RATIO OF BELOW 100 BY END OF 2018, ENTERING 2019 - CONF CALL.AIG EXEC SAYS COMPANY IS REBALANCING CASUALTY BOOK AND GETTING OUT OF LEAD EXCESS CASUALTY - CONF CALL.CEO SAYS BUYING BACK STOCK IS A TOOL; "I USED IT BEFORE, I MAY USE IT AGAIN" - CONF CALL.CEO SAYS LOSS RATIO FOR NORTH AMERICA COMMERCIAL WILL "PROBABLY WILL BE ABOVE 100" - CONF CALL.AIG OFFICIAL SAYS DOES NOT EXPECT "AN IMMEDIATE CHANGE" FROM U.S. APPEALS COURT DECISION INVALIDATING U.S. DEPARTMENT OF LABOR FIDUCIARY RULE.CEO SAYS "WE'RE TAKING LOTS OF TIME AND EFFORT TO FIX EXCESS CASUALTY BOOK" - CONF CALL.CEO SAYS ACTIONS TAKEN IN EXCESS CASUALTY "BECOME EFFECTIVE NOW," BUT COMPANY TAKING TIME TO VERIFY - CONF CALL.CEO SAYS PREMIUM LEVELS "WILL STABILIZE THIS YEAR OVER LAST" BY EVALUATING COMPANY'S PORTFOLIO, NOT INCREASING PRODUCTION - CONF CALL.  Full Article

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AIG paid CEO Duperreault $20.9 million in 2018: filing

Insurer American International Group Inc said on Tuesday it paid Chief Executive Officer Brian Duperreault $20.9 million in 2018 while also outlining a series of reforms to its pay practices in the face of shareholder criticism.