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American International Group Inc (AIG.N)

AIG.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

AIG Named Official Insurance Partner Of The PGA of America
Wednesday, 16 Jan 2019 

Jan 16 (Reuters) - PGA of America::PGA OF AMERICA SAYS AMERICAN INTERNATIONAL GROUP HAS BEEN NAMED OFFICIAL INSURANCE PARTNER OF PGA OF AMERICA.  Full Article

NY State DFS Orders Arch Insurance & National Union Fire To Provide $8 Mln In Rebates
Thursday, 10 Jan 2019 

Jan 10 (Reuters) - New York State Department of Financial Services::NY STATE DFS ORDERS ARCH INSURANCE CO & NATIONAL UNION FIRE INSURANCE CO TO PROVIDE $8 MILLION IN REBATES TO NEW YORK VOLUNTEER FIREFIGHTER COMPANIES.NY STATE DFS SAYS ARCH INSURANCE CO & NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH, PENNSYLVANIA MUST ALSO PAY COMBINED $2.2 MILLION IN FINES.NY STATE DFS - ARCH INSURANCE, NATIONAL UNION FIRE FAILED TO SATISFY REQUIRED MINIMUM LOSS RATIO STANDARDS IN BLANKET ACCIDENT & HEALTH INSURANCE POLICIES.  Full Article

AIG Life Limited (U.K.) Appoints Philip Willcock As CEO
Wednesday, 12 Dec 2018 

Dec 12 (Reuters) - AIG LIFE LIMITED (U.K.)::AIG LIFE LIMITED (U.K.) APPOINTS NEW CEO.AIG LIFE LIMITED (U.K.) - APPOINTMENT OF PHILIP WILLCOCK AS CEO EFFECTIVE MARCH 1, 2019 .AIG LIFE LIMITED (U.K.) - ANNOUNCED APPOINTMENT OF PHILIP WILLCOCK AS CHIEF EXECUTIVE OFFICER.  Full Article

AIG appoints Mark Lyons chief financial officer
Tuesday, 4 Dec 2018 

Dec 4 (Reuters) - American International Group Inc ::AIG APPOINTS MARK D. LYONS CHIEF FINANCIAL OFFICER.AIG - LYONS SUCCEEDS SID SANKARAN.AIG - LYONS SUCCEEDS SID SANKARAN, WHO WILL REMAIN AT AIG IN AN ADVISORY CAPACITY THROUGH YEAR-END REPORTING PROCESS FOR FISCAL YEAR 2018.AIG - LYONS WILL REMAIN CHIEF ACTUARY, GENERAL INSURANCE, UNTIL A SUCCESSOR IS NAMED.AIG - APPOINTED MARK LYONS TO ROLE OF EXECUTIVE VICE PRESIDENT & CHIEF FINANCIAL OFFICER.  Full Article

BRIEF-AIG CEO says insurer expects a 2019 underwriting profit "but not a great one" - call
Thursday, 1 Nov 2018 

Corrects 6th bullet point to 75 percent of loss reserves from 50 percent:CEO SAYS COMPANY IS WORKING TOWARD HAVING ONE REINSURANCE STRUCTURE IN JAPAN INSTEAD OF TWO TOWERS.AIG CFO SAYS INSURER EXPECTS 2018 ADJUSTED U.S. TAX RATE TO INCREASE SLIGHTLY TO 25 PERCENT DUE TO CATASTROPHES, CHANGES TO TAX CODE.EXEC SAYS INSURER IS PREPARING TO INCREASE U.S. REINSURANCE DURING 2019 RENEWAL SEASON-CALL.AIG EXEC SAYS EXPECTS CASUALTY TERMS AND CONDITIONS CONTINUE TO TIGHTEN WITH RATE CHANGES CONSISTENT WITH LOSS TRENDS-CALL.AIG EXEC SAYS EXPECTS COMMERCIAL CLAIMS TO BECOME MORE COMPLEX - CALL.AIG EXEC SAYS COMPANY HAS REVIEWED 75 PERCENT (NOT 50 PERCENT) OF LOSS RESERVES FOR GENERAL INSURANCE - CALL.EXEC SAYS Q4 RESERVES REVIEW TO FOCUS ON U.S. FINANCIAL LINES, WORKERS' COMP AND INTERNATIONAL CASUALTY, EXCLUDING U.K. AND EUROPE-CALL.CEO SAYS EXPECTS UNDERWRITING PROFIT IN FIRST QUARTER 2019 - CALL.EXEC SAYS WORKERS' COMPENSATION IS "FLAT" AND MAY BE "LOSING A LITTLE THERE" BECAUSE OF INFLATION-CALL.SAYS INSURER IS REDUCING "APPETITE" IN CONSTRUCTION INSURANCE BUSINESS TO "A VERY LIMITED AMOUNT" - CALL.SAYS COMPANY WILL MOVE TO UNDERWRITING PROFIT IN 2019 "BUT NOT A GREAT ONE" - CALL.  Full Article

AIG CEO says insurer expects a 2019 underwriting profit "but not a great one" - call
Thursday, 1 Nov 2018 

Nov 1 (Reuters) - American International Group Inc ::CEO SAYS COMPANY IS WORKING TOWARD HAVING ONE REINSURANCE STRUCTURE IN JAPAN INSTEAD OF TWO TOWERS.AIG CFO SAYS INSURER EXPECTS 2018 ADJUSTED U.S. TAX RATE TO INCREASE SLIGHTLY TO 25 PERCENT DUE TO CATASTROPHES, CHANGES TO TAX CODE.EXEC SAYS INSURER IS REPARING TO INCREASE U.S. REINSURANCE DURING 2019 RENEWAL SEASON-CALL.AIG EXEC SAYS EXPECTS CASUALTY TERMS AND CONDITIONS CONTINUE TO TIGHTEN WITH RATE CHANGES CONSISTENT WITH LOSS TRENDS-CALL.AIG EXEC SAYS EXPECTS COMMERCIAL CLAIMS TO BECOME MORE COMPLEX - CALL.AIG EXEC SAYS COMPANY HAS REVIEWED 50 PERCENT OF LOSS RESERVES FOR GENERAL INSURANCE - CALL.EXEC SAYS Q4 RESERVES REVIEW TO FOCUS ON U.S. FINANCIAL LINES, WORKERS' COMP AND INTERNATIONAL CASUALTY, EXCLUDING U.K. AND EUROPE-CALL.CEO SAYS EXPECTS UNDERWRITING PROFIT IN FIRST QUARTER 2019 - CALL.EXEC SAYS WORKERS' COMPENSATION IS "FLAT" AND MAY BE "LOSING A LITTLE THERE" BECAUSE OF INFLATION-CALL.SAYS INSURER IS REDUCING "APPETITE" IN CONSTRUCTION INSURANCE BUSINESS TO "A VERY LIMITED AMOUNT" - CALL.SAYS COMPANY WILL MOVE TO UNDERWRITING PROFIT IN 2019 "BUT NOT A GREAT ONE" - CALL.  Full Article

AIG Board Declares Common Stock Dividend Of $0.32 Per Share
Wednesday, 31 Oct 2018 

Oct 31 (Reuters) - American International Group Inc ::AIG BOARD OF DIRECTORS DECLARES COMMON STOCK DIVIDEND OF $0.32 PER SHARE.  Full Article

AIG Reports Qtrly Adjusted After-Tax Loss Per Share $0.34
Wednesday, 31 Oct 2018 

Oct 31 (Reuters) - American International Group Inc ::AIG - QTRLY LOSS PER SHARE $1.41; QTRLY ADJUSTED AFTER-TAX LOSS PER SHARE $0.34.AIG - QTRLY NET PRE-TAX CATASTROPHE LOSSES $1.6 BILLION ($1.3 BILLION AFTER-TAX).AIG SAYS IN QUARTER, CATASTROPHE LOSSES IN NORTH AMERICA WERE LARGELY DUE TO HURRICANE FLORENCE & REVISIONS TO LOSS ESTIMATES ON CALIFORNIA MUDSLIDES.AIG SAYS "REMAIN ON TRACK TO PRODUCE AN UNDERWRITING PROFIT".AIG SAYS CATASTROPHE LOSSES IN JAPAN REPRESENTED OVER HALF OF THE OVERALL CATASTROPHE LOSSES IN QUARTER.AIG - QTRLY TOTAL GENERAL INSURANCE GROSS PREMIUMS WRITTEN $8,668 MILLION, UP 3 PERCENT.AIG SAYS AS OF SEPT 30, BOOK VALUE PER COMMON SHARE WAS $66.23 VERSUS $72.49 AT DEC 31, 2017.AIG - QTRLY TOTAL GENERAL INSURANCE NET PREMIUMS WRITTEN $6,835 MILLION, UP 4 PERCENT.AIG - QTRLY TOTAL GENERAL INSURANCE UNDERWRITING LOSS $1,726 MILLION VERSUS LOSS OF $3,796 MILLION.AIG SAYS NORTH AMERICA PERSONAL INSURANCE WAS ADVERSE BY $148 MILLION FOR QUARTER DRIVEN LARGELY BY UPDATED LOSS ESTIMATES FOR 2017 CALIFORNIA WILDFIRES.  Full Article

AIG's European Unit Receives Approval To Transfer Its Business Into Two New Entities
Thursday, 25 Oct 2018 

Oct 25 (Reuters) - American International Group Inc ::AIG'S BREXIT RESTRUCTURE APPROVED.AIG - AIG UK WILL BE BASED IN LONDON, UK, & WILL CONTINUE BUSINESS OF AEL'S EXISTING UK OPERATIONS.AIG - RESTRUCTURE APPROVAL IS FINAL UK APPROVAL NEEDED TO COMPLETE RESTRUCTURING OF AIG'S EUROPEAN OPERATIONS AND ENSURE AIG'S READINESS FOR BREXIT.AIG - BOTH COMPANIES TO START WRITING BUSINESS AND POLICYHOLDERS WILL TRANSFER FROM AEL TO RELEVANT NEW ENTITY ON 1 DECEMBER 2018.AIG - AESA WILL BE HEADQUARTERED IN LUXEMBOURG CITY, LUXEMBOURG, WITH 21 BRANCHES ACROSS EEA AND SWITZERLAND.AIG - TWO-ENTITY STRUCTURE ENABLES AIG TO CONTINUE TO SERVICE ALL OF ITS POLICYHOLDERS AND BUSINESS PARTNERS ACROSS UK AND EUROPE.AIG - HAS RECEIVED APPROVAL FROM HIGH COURT OF ENGLAND & WALES TO TRANSFER ITS BUSINESS INTO TWO NEW ENTITIES.AIG - AIG EUROPE LIMITED TO TRANSFER ITS BUSINESS INTO TWO NEW ENTITIES NAMED AMERICAN INTERNATIONAL GROUP UK LIMITED AND AIG EUROPE SA.  Full Article

AIG Preannounces Global Catastrophe Losses
Thursday, 18 Oct 2018 

Oct 18 (Reuters) - American International Group Inc ::AIG PREANNOUNCES GLOBAL CATASTROPHE LOSSES.AIG SAYS EXPECTS TO REPORT Q3 2018 PRE-TAX CATASTROPHE LOSSES, NET OF REINSURANCE, OF APPROXIMATELY $1.5 TO $1.7 BILLION.AIG - Q3 2018 PRE-TAX CATASTROPHE LOSSES LARGELY ASSOCIATED WITH MULTIPLE EVENTS IN JAPAN, INCLUDING TYPHOONS JEBI AND TRAMI.AIG - EXPECTS Q3 PRE-TAX CATASTROPHE LOSSES, NET OF REINSURANCE, RESULTING FROM MULTIPLE EVENTS IN JAPAN AND ASIA TO BE ABOUT $900 MILLION TO $1 BILLION.AIG - Q3 2018 PRE-TAX CATASTROPHE LOSSES LARGELY ASSOCIATED WITH HURRICANE FLORENCE AND REVISIONS TO CO'S LOSS ESTIMATES ON CALIFORNIA MUDSLIDES.AIG - EXPECTS Q3 PRE-TAX CATASTROPHE LOSSES, NET OF REINSURANCE, RESULTING FROM EVENTS IN NORTH AMERICA TO BE APPROXIMATELY $600 TO $700 MILLION.AIG SAYS ESTIMATES IT HAS EXHAUSTED ABOUT $700 MILLION OF $750 MILLION RETENTION UNDER NORTH AMERICA AGGREGATE CATASTROPHE REINSURANCE PROGRAM.AIG - Q3 2018 INITIAL PRE-TAX LOSS ESTIMATES FOR HURRICANE MICHAEL, NET OF REINSURANCE, ARE APPROXIMATELY $300 TO $500 MILLION.AIG - Q3 2018 PRE-TAX CATASTROPHE LOSSES ESTIMATES INCLUDE EXPECTED LOSSES FOR VALIDUS HOLDINGS, LTD. AND ITS AFFILIATES.  Full Article

Investment bank Perella Weinberg plans to name Peter Weinberg as CEO - source

Jan 10 Investment bank Perella Weinberg Partners plans to name Peter Weinberg as its chief executive officer with current CEO Robert Steel set to become the company's chairman, a person familiar with the matter told Reuters on Thursday.