AIG showed continued improvement in its core business-insurance operations, but a weaker and shrinking share of income from a life-insurance unit being divested kept its operating income relatively flat.
Tag: AIG profits
AIG Boosts Profit as Catastrophe Losses Narrow, Premiums Increase
American International Group Inc. posted strong gains in first-quarter profit, benefiting from reduced catastrophe losses, growth in new business and premium-rate increases. The AIG results reflected the turnaround of the company’s business of selling property-casualty insurance to corporate clients world-wide. The overhaul has been led by Peter Zaffino, who took over as chief executive in… Continue reading AIG Boosts Profit as Catastrophe Losses Narrow, Premiums Increase
AIG Q3 Profit Rises 490% on Insurance Sales, Higher Premiums
American International Group Inc. reported strong improvement in third-quarter profit, as it sold more property-casualty insurance at higher premium rates. The company’s net income totaled $1.66 billion, a 490% jump over the year-earlier net of $281 million. Results in 2020 were depressed by pandemic-related shutdowns and the reluctance of many Americans to fly, which hurt… Continue reading AIG Q3 Profit Rises 490% on Insurance Sales, Higher Premiums
AIG’s General Insurance Unit Returns to Underwriting Profit in Q4
American International Group, Inc. AIG posted fourth-quarter 2019 operating income of $1.03 per share, beating the Zacks Consensus Estimate by a penny. In the year-ago quarter, the company reported loss of 63 cents per share. Total revenues of $11.8 billion were down 6.3% year over year and also missed the Zacks Consensus Estimate by 4.2%,… Continue reading AIG’s General Insurance Unit Returns to Underwriting Profit in Q4
AIG Swings to Profit, as Catastrophes Take a Smaller Toll
Global insurer American International Group Inc. swung to a profit in third-quarter net income, as catastrophes took significantly less of a bite out of earnings than the year before. AIG’s flagship business of selling property-casualty insurance to companies world-wide gained more ground in its multiyear turnaround effort. The unit managed to post a profit, even… Continue reading AIG Swings to Profit, as Catastrophes Take a Smaller Toll
AIG Beats Highest Profit Estimate on Resurgence of P&C Unit
American International Group Inc.’s property-casualty business, stung by higher-than-expected costs in recent years, extended a recovery as it hit a key mark for the second quarter in a row. Chief Executive Officer Brian Duperreault has sought to overhaul the business, which posted an underwriting profit of $147 million in the second quarter. That helped fuel… Continue reading AIG Beats Highest Profit Estimate on Resurgence of P&C Unit
AIG Notches Turnaround in Key Unit
American International Group Inc.’s first-quarter net income fell, but its closely watched adjusted operating results jumped 44% as a core unit posted long-awaited improvement. The recovery in that main unit is a positive development for AIG’s Chief Executive Officer Brian Duperreault, who was hired two years ago to turn around one of the world’s biggest… Continue reading AIG Notches Turnaround in Key Unit