$AIG (American International Group, Inc.)

$AIG {{ '2016-02-12T13:24:53+0000' | timeago}} • Webcast

$AIG said in 4Q15 it announced the sale of PICC shares and took additional actions to monetize legacy portfolio assets. The company is on track to achieving the targeted $9Bil in legacy capital release by 2017. 4Q15 strategic actions are the foundation for the $25Bil of capital return that the company expects over the next two years.

$AIG {{ '2017-12-05T17:54:20+0000' | timeago}} • Announcement

$AIG announced that Tom Bolt will join the company as Chief Underwriting Officer, General Insurance. Mr. Bolt will report to Peter Zaffino, Chief Executive Officer, General Insurance, as a member of the General Insurance Executive Leadership Team. He is expected to join the company in January 2018.

$AIG {{ '2017-11-08T17:56:17+0000' | timeago}} • Infographic

$AIG American International Group, Inc. Earnings AlphaGraphic: Q3 2017 highlights

$AIG {{ '2017-11-07T14:55:41+0000' | timeago}} • Announcement

$AIG appointed Lex Baugh as CEO of North America General Insurance. Mr. Baugh will report to Peter Zaffino, CEO of General Insurance, as a member of the General Insurance Executive Leadership Team. The appointment is effective immediately.

$AIG {{ '2017-11-03T20:34:20+0000' | timeago}} • Announcement

On Nov. 1, $AIG closed on the sale of its remaining life settlements portfolio resulting in the remittance of $1.1Bil of cash proceeds to AIG Parent in 4Q17 and fulfilling the $9 billion return of Legacy capital.

$AIG {{ '2017-11-03T20:31:55+0000' | timeago}} • Webcast

$AIG expects to have the full General Insurance operating structure clearly defined by Jan. 1, 2018.

$AIG {{ '2017-11-03T20:31:10+0000' | timeago}} • Webcast

For FY18, $AIG expects $4-5Bil in dividends from its insurance subsidiaries, excluding potentially Legacy-related activity and subject to customary approvals.

$AIG {{ '2017-11-03T20:29:54+0000' | timeago}} • Webcast

"While we can't provide insight into an actual fourth-quarter loss ratio, a high 60% is a reasonable expectation for a full accident year," $AIG announced in the 3Q17 earnings call.

$AIG {{ '2017-11-03T20:26:14+0000' | timeago}} • Announcement

Aggregate pre-tax catastrophe losses of $3.0Bil primarily from Hurricanes Harvey, Irma and Maria pushed $AIG to a net loss of $1.7Bil or $1.91 per share for 3Q17, compared to net income of $462MM or $0.42 per diluted share a year ago. After-tax operating loss was $1.1Bil or $1.22 per share for the quarter.

$AIG {{ '2017-10-09T22:13:32+0000' | timeago}} • Announcement

$AIG expects to report 3Q17 pretax catastrophe losses net of reinsurance of $2.9-3.1Bil ($1.9-2Bil after-tax). This amount includes pretax estimated losses of $1.1-1.2Bil from Hurricane Harvey, $1-1.1Bil from Hurricane Irma, $600-700MM from Hurricane Maria, and approx. $150MM in additional catastrophe losses including Mexico earthquakes.

$AIG {{ '2017-10-03T15:56:49+0000' | timeago}} • Announcement

$AIG named Charles Fry as the company's Head of Reinsurance, Operations and Transformation, General Insurance, effective immediately. Fry will oversee AIG's Global Reinsurance, Shared Services, Transformation and Administration functions. He previously served as Group CFO at Novae Group plc.

$AIG {{ '2017-09-25T15:13:48+0000' | timeago}} • Announcement

$AIG expects that its year-end financial reporting will reflect the new structure. AIG also intends to align its incentive and performance management systems accordingly. As a result of the structure changes, Rob Schimek, CEO of Commercial, will be leaving the company at the end of October to pursue other interests.

$AIG {{ '2017-09-25T15:13:06+0000' | timeago}} • Announcement

$AIG will no longer have Commercial and Consumer segments and will transition to General Insurance led by Peter Zaffino as CEO, Life & Retirement led by Kevin Hogan as CEO, and a stand-alone technology-enabled platform led by Seraina Macia as CEO.

$AIG {{ '2017-09-06T13:37:09+0000' | timeago}} • Announcement

$AIG appointed Lucy Fato as EVP and General Counsel, effective Oct. 16. Fato is currently Managing Director, Head of the Americas and General Counsel at the global investigations firm Nardello & Co. Fato succeeds Peter Solmssen, who has served as $AIG's General Counsel since 2016 and is returning to retirement.

$RE {{ '2017-09-05T16:04:18+0000' | timeago}} • Announcement

$RE said Debbie Weiser has joined Everest Insurance as the newly appointed leader of Excess Casualty within Everest Specialty Casualty. Based in New York, Debbie joins Everest from $AIG where she was Head of Excess Casualty Strategic Growth and Innovation.

$AIG {{ '2017-08-21T13:48:39+0000' | timeago}} • Announcement

$AIG will redeem all of its outstanding 4.90% Callable Notes due September 25, 2045 on September 25, 2017. On the Redemption Date, AIG will pay to the registered holders of the Notes a redemption price equal to 100% of the principal amount of the Notes, plus accrued and unpaid interest to, but not including, the Redemption Date.

$AIG {{ '2017-08-03T20:14:16+0000' | timeago}} • Webcast

According to $AIG, "we still have a buyback authorization in place and will consider capital return but are no longer targeting an amount for share repurchases.”  As 2Q17 results were posted, AIG said it shrunk the gross book in the period by a third from 2015.

$AIG {{ '2017-08-03T20:00:20+0000' | timeago}} • Webcast

As $AIG posted 2Q17 results, the new chief executive Brian Duperreault said that he would not stick with the capital return plan devised by former CEO Peter Hancock. Mr. Hancock's plan from last year was expected to return $25Bil to shareholders by the FY17 end.

$AIG {{ '2017-08-03T19:51:38+0000' | timeago}} • Announcement

$AIG declared a quarterly dividend of $0.32 per share, par value $2.50 per share. The dividend is payable on September 29, 2017, to stockholders of record at the close of business on September 15, 2017.

$AIG {{ '2017-08-03T19:50:54+0000' | timeago}} • Announcement

At 2Q17 end, total shareholders' equity for $AIG was $73.7Bil, while the ROE for the quarter was 6.1%. Net Premiums Written for Total Commercial Insurance slipped 15% to $2.1Bil for AIG.

$AIG {{ '2017-08-03T19:50:40+0000' | timeago}} • Announcement

With pre-tax operating income rising 11%, $AIG posted a 41% fall in net income of $1.1Bil or $1.19 per diluted share for 2Q17. Book value fell 2% to $81.6 per share in the quarter.

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