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American International Group, Inc. Message Board

  • cactionalpha cactionalpha Nov 4, 2013 8:53 AM Flag

    Thoughts and reactions to the conference call.

    I encourage all to go through the transcript and to also listen to it as well.
    This was one reaction from an analyst after listening to the CC

    The only number that really stood out to us was that premiums and deposits in the life insurance unit were up a staggering 76.0%, which the company attributed to growth in sales of investment-oriented   products, including individual variable annuities, retail mutual funds and fixed annuities

    What stood out for me are the following quotes from the CC

    "The buyback program started in the middle of the quarter"

    As you can see on slide seven our insurance operations remain a source of parental liquidity as they sent $1.9 billion in dividend and distribution to the parent, and as I mentioned earlier, $4.6 billion year to date.

    "We’ve deployed $18 billion in capital through equity buybacks, a combination of equity buybacks, debt capital management, and the reestablishment of our common stock dividend."

    "And importantly, we remain focused on generating deployable capital with distributions from our insurance operating companies of about $4.6 billion year to date through the third quarter."

    Our reserves remain stable and net adverse development was $72 million in the quarter compared to $145 million a year ago, a benign level given our $63-plus billion of reserves overall.

    Innovation product design, favorable market conditions, and increasing effectiveness of our distribution strategy all contributed to a 118% increase in retail premiums and deposits from the year ago period.

    The aspirational/ guidance message really took center stage and the share price took a hit but if you look at the progress AIG has made up to now I think it was all overblown but disconcerting just the same.

    As I say listen to the CC and come up with your own conclusions.

    Sentiment: Strong Buy

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54.61-0.07(-0.13%)Nov 26 4:02 PMEST

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