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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)

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

Validus Holdings Issues Notice Of Redemption Of Preference Shares
Thursday, 27 Sep 2018 

Sept 27 (Reuters) - American International Group Inc ::VALIDUS HOLDINGS, LTD. ISSUES NOTICE OF REDEMPTION OF PREFERENCE SHARES.  Full Article

AIG Names Thomas Lillelund As CEO Of AIG Europe SA
Wednesday, 8 Aug 2018 

Aug 8 (Reuters) - American International Group Inc ::AIG NAMES THOMAS LILLELUND AS CHIEF EXECUTIVE OFFICER OF AIG EUROPE SA.LILLELUND JOINS FROM ASPEN RE WHERE HE HAS BEEN CHIEF EXECUTIVE OFFICER.ANTHONY BALDWIN, CURRENTLY CEO OF AIG EUROPE LIMITED, WILL BECOME CEO OF AIG'S NEW UK ENTITY.  Full Article

AIG Names Jonathan Wismer As Senior Vice President
Monday, 6 Aug 2018 

Aug 6 (Reuters) - American International Group Inc ::AIG NAMES JONATHAN WISMER AS SENIOR VICE PRESIDENT, DEPUTY CHIEF FINANCIAL OFFICER AND CHIEF ACCOUNTING OFFICER.AIG - WISMER SUCCEEDS ELIAS HABAYEB, WHO WAS APPOINTED CFO FOR GENERAL INSURANCE IN MAY..  Full Article

AIG CEO EXPECTS GENERAL INSURANCE EXPENSE RATIO TO IMPROVE BY 2 POINTS ENTERING 2019
Friday, 3 Aug 2018 

Aug 3 (Reuters) - American International Group Inc ::EXEC SAYS COMPANY SPEAKING WITH REINSURERS ABOUT BUSINESS OPPORTUNITIES FOR SECOND HALF 2018.HAS HIRED 125 SENIOR UNDERWRITING EXECUTIVES GLOBALLY SINCE START OF 2018.IS SAYS COMPANY IS REVISING USE OF DEDUCTIBLES, REDUCING EXPOSURE TO CERTAIN INDUSTRIES AND PUTTING NEW UNDERWRITING TEAMS IN PLACE..EXEC SAYS COMPANY REDUCED PROPERTY UNDERWRITING LIMITS FROM $2.5 BILLION GLOBALLY TO $1 BILLION IN THE U.S. AND $750 BILLION INTERNATIONALLY, WITH SOME EXCEPTIONS - CONF CALL.EXEC SAYS INCLUDING NEWLY-ACQUIRED VALIDUS HOLDINGS LTD IN GENERAL INSURANCE RESULTS COULD PROVIDE UP TO 100 BASIS POINTS IMPROVEMENT IN ADJUSTED ACCIDENT YEAR LOSS RATIO - CONF CALL.CEO EXPECTS GENERAL INSURANCE EXPENSE RATIO TO IMPROVE BY 2 POINTS ENTERING 2019 - CONF CALL.CEO EXPECTS IMPROVED COMBINED RATIO OF UNDER 100 ENTERING 2019 - CONF CALL.CEO SAYS EVEN 2 POINT IMPROVED EXPENSE RATIO "IS NOWHERE WHERE IT NEEDS TO BE.".EXEC SAYS COMPANY EXPECTS TO SHOW IMPROVEMENT FROM REINSURANCE IN 2019 - CONF CALL.CEO SAYS IT WOULD BE "GREAT" TO FIND A RETIREMENT BUSINESS TO ACQUIRE - CONF CALL.CEO SAYS "THERE'S ELEMENTS OF OUR GENERAL INSURANCE BUSINESS IN THE U.S. WHERE WE'RE DOMINATED LARGE COMMERCIAL AND I'D LIKE TO HAVE SOME BALANCE LARGE AND SMALL" - CONF CALL.  Full Article

Global regulators hold off designating 'too big to fail' insurers

LONDON Global insurance regulators will put off singling out insurers deemed so important to the financial system that they are required to hold extra capital, in a victory for companies such as American International Group and Prudential .