|Bid||48.41 x 1400|
|Ask||48.80 x 2200|
|Day's Range||48.59 - 49.78|
|52 Week Range||41.11 - 58.66|
|Beta (5Y Monthly)||1.07|
|PE Ratio (TTM)||12.98|
|Earnings Date||May 03, 2020 - May 07, 2020|
|Forward Dividend & Yield||1.28 (2.57%)|
|Ex-Dividend Date||Mar 12, 2020|
|1y Target Est||58.38|
A new research paper from Federal Reserve staffers finds U.S. life insurers have taken on the risks in private debt largely ceded by banks after the 2008 financial crisis.
Technology shares led all three major U.S. stock averages lower, with the blue-chip Dow suffering the largest percentage loss. Hopes that the coronavirus epidemic could be on the wane were soured by a spike in fatalities, with an additional 242 bringing China's coronavirus death toll to 1,367. "On a day like today investors just have to take it in stride," said Charlie Ripley, senior market strategist for Allianz Investment Management in Minneapolis.
American International Group, Inc. (NYSE: AIG) today announced that it will redeem all of its outstanding 4.35% Callable Notes Due 2045 (ISIN No. XS1201950851) (the "Notes") on March 20, 2020 (the "Redemption Date"). 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. As of February 13, 2020, $350,000,000 aggregate principal amount of the Notes were outstanding.
The S&P 500 reversed its losses on Thursday as investors weighed mixed news on the coronavirus and a spate of corporate earnings. While a drop in Cisco Systems Inc shares helped keep the blue-chip Dow in the red, the S&P 500 and the Nasdaq rebounded and were both on track to eke out their fourth consecutive record closing highs.
AIG, one of the largest insurers in the United States, posted an underwriting income of $12 million in its general insurance business for the quarter, compared with a loss of $1.07 billion, a year earlier. Net pre-tax catastrophe loss at the general insurance unit narrowed to $411 million from $826 million, a year earlier. Chief Executive Officer Brian Duperreault, who joined the insurer in 2017, has been overhauling the underwriting culture at AIG's general insurance business through initiatives including raising rates and shedding unprofitable lines.
American International Group Inc. swung to a fourth-quarter profit that beat expectations, citing the favorable impact of general insurance underwriting and reinsurance actions and a favorable loss reserve development. The stock slipped 0.2% in premarket trading. Net income was $922 million, or $1.03 a share, after a loss of $622 million, or 70 cents a share, in the year-ago period. On an adjusted basis, earnings per share were $1.03 after a per-share loss of 63 cents last year, beating the FactSet consensus of $1.00. Total consolidated net investment income rose to $3.6 billion from $2.8 billion, reflecting higher alternative investment returns. In general insurance, net premiums written fell 9% to $5.83 billion, including a 4% decline in North American and a 13% decline in international. The stock was down 0.8% over the past three months through Wednesday, while the S&P 500 has gained 9.2%.
American International Group, Inc. (NYSE: AIG) today announced that its Board of Directors declared a quarterly cash dividend of $0.32 per share on AIG Common Stock, par value $2.50 per share. The dividend is payable on March 30, 2020 to stockholders of record at the close of business on March 16, 2020.
American International Group, Inc. (NYSE: AIG) today reported net income attributable to AIG common shareholders of $922 million, or $1.03 per diluted common share, for the fourth quarter of 2019, compared to a net loss attributable to AIG common shareholders of $622 million, or $0.70 per common share, in the prior-year quarter. The improvement was primarily due to the favorable impact of General Insurance underwriting and reinsurance actions, favorable net prior year loss reserve development of $153 million (pre-tax) compared to unfavorable net prior year loss reserve development of $365 million (pre-tax) in the prior-year quarter, a reduction in pre-tax net catastrophe losses of $385 million compared to the prior-year quarter, and an increase of $833 million (pre-tax) in net investment income compared to the prior-year quarter. Adjusted after-tax income attributable to AIG common shareholders was $919 million, or $1.03 per diluted common share, for the fourth quarter of 2019, compared to an adjusted after-tax loss attributable to AIG common shareholders of $559 million, or $0.63 per common share, in the prior-year quarter. The improvement was primarily due to the favorable impact of General Insurance underwriting and reinsurance actions, lower catastrophe losses and an increase in net investment income compared to the prior-year quarter.
Investors were unimpressed with AIG’s outlook for 2020 and a new savings target for its cost-saving programme, and sending shares in the US insurer down by 3.6 per cent in mid-day trading after the company reported fourth-quarter earnings.
SelectQuote has hired investment banks for an initial public offering (IPO) that could value the owner of the eponymous insurance policy comparison website at more than $2 billion, including debt, according to people familiar with the matter. SelectQuote is working with banks that include Morgan Stanley and Credit Suisse Group AG on an IPO that could come in the first half of this year, subject to market conditions, according to the sources, who spoke on condition of anonymity because the information is not public.
Peter Zaffino sat at 2 World Trade Center poring over financial reports on the morning of Sept. 11, 2001, when the first plane struck a neighboring building. Zaffino, known by colleagues for his laser-like focus, remained at his desk as staff began fleeing. It was not until a fire warden pleaded with Zaffino – who was then an executive at reinsurance brokerage Guy Carpenter – that he finally left, a person familiar with the situation said.
American International (AIG) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
American International's (AIG) Q4 results are likely to reflect growth at its General Insurance and Life and Retirement segments partly offset by catastrophe losses.
American International Group (AIG) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.