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American International Group Inc (AIG.N)

AIG.N on New York Stock Exchange

8 Dec 2017
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Latest Key Developments (Source: Significant Developments)

AIG Launches Assured Edge Income Builder-NY
Wednesday, 29 Nov 2017 09:14am EST 


AIG partners with PIMCO to launch a new global index​
Wednesday, 8 Nov 2017 09:00am EST 

Nov 8 (Reuters) - American International Group Inc :‍AIG partners with PIMCO to launch a new global index​.  Full Article

AIG names Lex Baugh as CEO of North America General Insurance
Tuesday, 7 Nov 2017 08:15am EST 

Nov 7 (Reuters) - American International Group Inc :AIG names Lex Baugh as chief executive officer, North America General Insurance; George Stratts to lead Lexington.AIG - ‍appointment of Lex Baugh as chief executive officer, North America General Insurance​.Aig - ‍in newly created role, Baugh will oversee AIG's U.S. and Canada general insurance business​.  Full Article

AIG wants "double-digit" rate increases after U.S. catastrophes-call
Friday, 3 Nov 2017 08:57am EDT 

Nov 3 (Reuters) - American International Group Inc :Aims to achieve "double-digit rate increases on a risk-adjusted basis" - call.Has "successfully begun to raise rates" after U.S. Hurricanes Harvey, Irma and Maria - CEO.Will "reconstitute" Lexington insurance unit as "standalone operation and true surplus lines writer" - CEO.Has created the AIG Risk Management unit (AIGRM) - CEO.AIG CEO says company has more distinct business segments with "clear accountability".Early estimate of fourth quarter California wildfire losses is about $500 million pretax, largely in personal lines business - call.Expects group and individual retirement net spreads to decline by 1 to 3 basis points per quarter - call.Wants to "dampen" some earnings volatility through reinsurance - CEO.May buy back shares again but will not reveal when or how - CEO.Expenses are higher than peers and what market will bear, must be addressed - CEO.  Full Article

AIG posts qtrly loss of $1.91 per share
Thursday, 2 Nov 2017 04:16pm EDT 

Nov 2 (Reuters) - American International Group Inc ::Qtrly loss per share $1.91; qtrly after-tax operating loss $1.22 per share.Q3 earnings per share view $-0.79 -- Thomson Reuters I/B/E/S.Qtrly results included pre-tax catastrophe losses of $3.0 billion primarily from hurricanes harvey, irma & maria.Book value per common share, excluding aoci, was $74.01 at quarter-end versus $76.12 reported at q2-end.Qtrly total commercial insurance combined ratio 195.4 percent versus 105.8 percent.Qtrly total commercial insurance net premiums written $3,770 million versus $4,354 million.  Full Article

AIG names Chris Townsend as CEO, International General Insurance
Monday, 30 Oct 2017 07:00pm EDT 

Oct 30 (Reuters) - American International Group Inc ::AIG names Chris Townsend as chief executive officer, International General Insurance.  Full Article

AIG says ‍introduced Blackboard, new brand name and logo for technology-focused unit
Monday, 30 Oct 2017 04:15pm EDT 

Oct 30 (Reuters) - American International Group Inc :AIG - ‍introduced Blackboard, new brand name and logo for technology-focused unit, formerly operating under Hamilton USA brand​.  Full Article

Tokio Marine Holdings to buy AIG business for about 30 billion yen ($266 million) - Nikkei
Monday, 2 Oct 2017 01:11pm EDT 

Oct 2 (Reuters) - Nikkei::Tokio Marine Holdings to buy medical stop-loss insurance business of AIG via U.S. unit for just over 30 billion yen ($266 million) - Nikkei.  Full Article

AIG says to no longer have Commercial and Consumer segments​
Monday, 25 Sep 2017 07:00am EDT 

Sept 25 (Reuters) - AIG :AIG announces changes to its organizational structure.AIG - ‍company will no longer have commercial and consumer segments​.Says ‍company expects that its year-end financial reporting will reflect new structure​.AIG - General Insurance and Life & Retirement will each have distinct business units that reflect how business is marketed and underwritten​.AIG - ‍as a result of structure changes, Rob Schimek, CEO of Commercial, will be leaving company at end of October to pursue other interests​.AIG - AIG also intends to align its incentive and performance management systems accordingly​.  Full Article

AIG announces adjustments to warrant exercise price and shares receivable upon warrant exercise
Thursday, 14 Sep 2017 04:16pm EDT 

Sept 14 (Reuters) - American International Group Inc :AIG announces adjustments to warrant exercise price and shares receivable upon warrant exercise.AIG - ‍Adjustments resulted from declaration by board of directors of AIG on August 2, 2017 of a dividend of $0.32 per share​.AIG - Warrant exercise price will be reduced to $44.1299 per share from $44.1593 per share​.AIG - ‍Number of shares of AIG common stock receivable upon warrant exercise will increase to 1.020 from 1.019​.  Full Article

MOVES-AIG names new chief underwriting officer of general insurance unit

Dec 5 U.S. commercial insurer American International Group Inc on Tuesday named Tom Bolt chief underwriting officer of its general insurance unit.