$AIG (American International Group, Inc.)

$AIG {{ '2015-11-03T12:31:12+0000' | timeago}} • Announcement

Multinational insurance company $AIG posted 3Q15 after-tax operating income of $691MM or $0.52 per diluted share and net loss per share on a reported basis of $0.18. The restructuring initiatives of the company will focus on organizational simplification, operational efficiency and business rationalization.

$AIG {{ '2017-07-13T13:23:56+0000' | timeago}} • Announcement

$AIG appointed appointment of Seraina Macia as EVP and CEO of a new planned subsidiary that aims to transform the way that $AIG delivers and underwrites commercial insurance. The appointment is effective immediately. Macia will report to $AIG President and CEO Brian Duperreault, and serve on the company's Executive Leadership Team (ELT).

$AIG {{ '2017-07-05T21:53:35+0000' | timeago}} • Announcement

$AIG announced the appointment of Peter Zaffino as EVP, Global COO effective August 1, 2017. Mr. Zaffino was previously the CEO of Marsh LLC.

$AIG {{ '2017-06-29T13:40:36+0000' | timeago}} • Announcement

Shareholders of $AIG elected 13 directors at its annual meeting. The shareholders also voted to support each of the four proposals recommended by $AIG's BoD.

$AIG {{ '2017-06-15T12:57:54+0000' | timeago}} • Announcement

$AIG, $IBM and Standard Chartered Bank plc have successfully piloted the first multinational, "smart contract" based insurance policy using blockchain, a distributed ledger technology. The pilot solution was built by IBM and is based on Hyperledger Fabric, a blockchain framework and one of the Hyperledger projects hosted by The Linux Foundation.

$AIG {{ '2017-06-09T14:50:41+0000' | timeago}} • Announcement

Insurance firm $AIG has priced the sale of 6,381,410 common shares of $ACGL through a public offering. The offering, which is scheduled to close on June 14, 2017, is expected to yield gross proceeds of about $590MM, based upon a price of $92.50 per share.

$AIG {{ '2017-05-15T13:44:55+0000' | timeago}} • Announcement

$AIG has agreed in principle it will acquire Hamilton USA, the U.S. platform of Hamilton Insurance Group, to continue accelerating its application of data science and analytics to transform underwriting.

$AIG {{ '2017-05-15T13:43:21+0000' | timeago}} • Announcement

$AIG, Hamilton Insurance Group, and Two Sigma Insurance Quantified, an independent affiliate of Two Sigma Investments, announced they have entered into MoU designed to expand their partnership with a view to leading the data-driven evolution of underwriting.

$AIG {{ '2017-05-15T13:36:56+0000' | timeago}} • Announcement

$AIG appointed Brian Duperreault as CEO and Director, effective May 14, 2017, to improve performance. Duperreault previously served as CEO of Hamilton Insurance Group, and will succeed Peter Hancock.

$AIG {{ '2017-05-04T13:55:07+0000' | timeago}} • Webcast

$AIG said with respect to property and special risks, on the special risk side, the company made some changes with respect to its programs business and decided to exit a number of these programs. These exits happened across the latter part of 2016 and it will benefit $AIG over the course of 2017.

$AIG {{ '2017-05-04T13:46:37+0000' | timeago}} • Webcast

$AIG said protecting the ratings of the subsidiaries is the most important objective in protecting value. The company said its capital levels and holding company liquidity remain strong. $AIG will remain prudent and return capital in consultation with rating agencies and regulators. $AIG is optimistic on resolving its rating outcomes.

$AIG {{ '2017-05-03T20:57:41+0000' | timeago}} • Announcement

In 1Q17, $AIG repurchased 56MM common shares for $3.6Bil. $AIG’s BoD has now authorized an additional increase to its previous repurchase authorization of its common stock of $2.5Bil, resulting in an aggregate remaining authorization of approx $3.8Bil on such date.

$AIG {{ '2017-05-03T20:49:35+0000' | timeago}} • Announcement

Insurance company $AIG swung to a profit in 1Q17 from a loss in the year-over period as Commercial and Consumer businesses improved. Net income was $1.18Bil, or $1.18 per share, compared to a loss of $183MM, or $0.16 per share in 1Q16. Return on equity of 6.3% improved largely due to active capital management and expense efficiencies.

$AIG {{ '2017-05-01T11:43:40+0000' | timeago}} • Announcement

$AIG has completed the sale of its Fuji Life Insurance Company, Ltd.to FWD Group, the insurance arm of Pacific Century Group. The deal was originally announced in November 2016.

$AIG {{ '2017-04-20T12:20:01+0000' | timeago}} • Announcement

$AIG will recognize an estimated nominal pretax deferred gain of $2.6Bil in connection with the adverse development cover entered into with Berkshire Hathaway. From 1Q17, $AIG will begin amortizing the deferred gain over the expected reinsurance recovery period. 1Q17 results will reflect a partial quarter of amortization of about $40MM pretax.

$AIG {{ '2017-04-20T12:19:45+0000' | timeago}} • Announcement

In 1Q17, $AIG expects to record an increase to prior year loss reserves of approx. $100MM pretax from the recent decision by the UK Ministry of Justice to reduce the discount rate applied to lump-sum bodily injury payouts, known as the Ogden rate, to -0.75%.

$AIG {{ '2017-03-29T11:07:55+0000' | timeago}} • Announcement

$AIG named Donna DeMaio as the new EVP and Chief Auditor on April 17. Ms. DeMaio succeeds Martha Gallo, who recently became the Chief Information Officer.

$AIG {{ '2017-03-09T15:26:06+0000' | timeago}} • Announcement

Peter Hancock is stepping down as $AIG CEO, after the company reported four losses in six quarters. He will remain in the position till a successor is named. Hancock was $AIG's sixth CEO since 2005.

$AIG {{ '2017-03-08T17:26:45+0000' | timeago}} • Announcement

From 2019, $AIG proposes to have two $AIG subsidiary insurance companies in Europe - one in the United Kingdom to write UK business and one in Luxembourg to write European Economic Area (EEA) and Swiss business, which will have branches across the EEA and Switzerland. The proposed restructure is expected to complete in 1Q19.

$AIG {{ '2017-03-08T17:24:39+0000' | timeago}} • Announcement

$AIG plans to locate an insurance company in Luxembourg to ensure continued smooth operation of its business across the European Economic Area (EEA) and Switzerland once the United Kingdom leaves the European Union (EU).

$AIG {{ '2017-03-07T13:48:02+0000' | timeago}} • Announcement

Insurance company $AIG has appointed Martha Gallo, who served as its Chief Auditor, to the post of CIO. She will succeed Philip Fasano, who left the company to pursue other opportunities. $AIG will soon appoint a new Chief Auditor.

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