AIG Reports Excellent Fourth Quarter and Full Year 2023 Results
Retrieved on:
Tuesday, February 13, 2024
Key Points:
NYSE:AIG
Chris Inglis Elected to AIG’s Board of Directors
Retrieved on:
Wednesday, February 7, 2024
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American International Group, Inc. (NYSE: AIG) today announced that its Board of Directors has elected John (Chris) Inglis as an independent Director, effective March 1, 2024.
Key Points:
- American International Group, Inc. (NYSE: AIG) today announced that its Board of Directors has elected John (Chris) Inglis as an independent Director, effective March 1, 2024.
- After 43 years of federal service, including 28 years at the National Security Agency and seven years as its Deputy Director, Mr. Inglis retired from the Department of Defense in January 2014.
- "Chris Inglis is a highly accomplished leader who will provide insight and perspective based on his deep experience with cyber intelligence and advanced technology," said AIG Lead Independent Director, John G. Rice.
- "Chris brings nearly five decades of distinguished military service as well as public and private sector leadership to AIG, and we look forward to welcoming him as our newest Board member."
AIG to Redeem its Series A Preferred Stock, Represented by Depositary Shares
Retrieved on:
Wednesday, January 31, 2024
American International Group, Inc. (NYSE: AIG) today announced that it will redeem all outstanding shares of its Series A 5.85% Non-Cumulative Perpetual Preferred Stock (CUSIP 026874 750 / ISIN US0268747500) (the “Series A Preferred Stock”) and all the corresponding Depositary Shares (CUSIP 026874 768 / ISIN US0268747682) (the “Depositary Shares”), each representing a 1/1,000th interest in a share of Series A Preferred Stock, on March 15, 2024 (the “Redemption Date”).
Key Points:
- American International Group, Inc. (NYSE: AIG) today announced that it will redeem all outstanding shares of its Series A 5.85% Non-Cumulative Perpetual Preferred Stock (CUSIP 026874 750 / ISIN US0268747500) (the “Series A Preferred Stock”) and all the corresponding Depositary Shares (CUSIP 026874 768 / ISIN US0268747682) (the “Depositary Shares”), each representing a 1/1,000th interest in a share of Series A Preferred Stock, on March 15, 2024 (the “Redemption Date”).
- As of January 31, 2024, 20,000 shares of Series A Preferred Stock and 20,000,000 Depositary Shares were outstanding.
- This press release does not constitute a notice of redemption of the Series A Preferred Stock or the corresponding Depositary Shares.
- Holders of the Depositary Shares should refer to the notice of redemption delivered to the registered holders of the Depositary Shares by Equiniti Trust Company, as Depositary, with respect to the Depositary Shares.
AM Best Upgrades Issuer Credit Ratings for American International Group, Inc. and Its Property/Casualty Subsidiaries
Retrieved on:
Friday, January 26, 2024
AM Best has upgraded the Long-Term Issuer Credit Ratings (Long-Term ICRs) to “a+” (Excellent) from “a” Excellent) and affirmed the Financial Strength Rating (FSR) of A (Excellent) of American International Group, Inc.’s (AIG) property/casualty (P/C) insurance subsidiaries (collectively referred to as AIG PC).
Key Points:
- AM Best has upgraded the Long-Term Issuer Credit Ratings (Long-Term ICRs) to “a+” (Excellent) from “a” Excellent) and affirmed the Financial Strength Rating (FSR) of A (Excellent) of American International Group, Inc.’s (AIG) property/casualty (P/C) insurance subsidiaries (collectively referred to as AIG PC).
- The outlook of the Long-Term ICRs has been revised to stable from positive, while the outlook of the FSR is stable.
- At the same time, AM Best has upgraded the Long-Term ICR to “bbb+” (Good) from “bbb” (Good) of AIG (headquartered in New York, NY) [NYSE: AIG].
- The Credit Ratings (ratings) of AIG PC reflect its balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, favorable business profile and appropriate enterprise risk management (ERM).
AIG to Report Fourth Quarter and Full Year 2023 Financial Results on February 13, 2024, and Host Conference Call on February 14
Retrieved on:
Tuesday, January 16, 2024
American International Group, Inc. (NYSE: AIG) will report financial results for the fourth quarter and full year ended December 31, 2023, after the market closes on Tuesday, February 13, 2024.
Key Points:
- American International Group, Inc. (NYSE: AIG) will report financial results for the fourth quarter and full year ended December 31, 2023, after the market closes on Tuesday, February 13, 2024.
- AIG’s press release and financial supplement will be available in the Investors section of AIG’s website at https://www.aig.com .
- AIG will also host a conference call on Wednesday, February 14, 2024, at 8:30 a.m.
- The live, listen-only webcast is open to the public and can be accessed in the Investors section of https://www.aig.com .
AIG Announces Closing of Secondary Offering of Corebridge Financial, Inc. Common Stock
Retrieved on:
Tuesday, December 5, 2023
American International Group, Inc. (NYSE: AIG) today announced the closing of its secondary offering of shares of Corebridge Financial, Inc. (NYSE: CRBG) common stock.
Key Points:
- American International Group, Inc. (NYSE: AIG) today announced the closing of its secondary offering of shares of Corebridge Financial, Inc. (NYSE: CRBG) common stock.
- AIG, as the selling stockholder, sold 35 million existing shares of common stock (out of approximately 630 million total shares of common stock outstanding) of Corebridge at a public offering price of $20.50 per share, which included a 30-day option to the underwriter to purchase up to an additional 5.25 million shares.
- The proceeds of the offering to AIG, after deducting underwriting discounts and commissions and other expenses payable by AIG, were approximately $712 million.
- The offering of common stock was made only by means of a prospectus and an accompanying prospectus supplement.
Jimmy Dunne Elected to AIG’s Board of Directors
Retrieved on:
Monday, December 4, 2023
American International Group (NYSE: AIG) today announced that its Board of Directors has elected James (Jimmy) Dunne III as an independent Director, effective December 1, 2023.
Key Points:
- American International Group (NYSE: AIG) today announced that its Board of Directors has elected James (Jimmy) Dunne III as an independent Director, effective December 1, 2023.
- View the full release here: https://www.businesswire.com/news/home/20231204513027/en/
Peter Zaffino, Chairman & CEO, AIG, stated: “We are delighted to have someone of Jimmy’s caliber join the AIG Board. - Mr. Dunne graduated from the University of Notre Dame and is a member on its Board of Trustees.
- He also currently serves as a board member of Chime Financial, Inc. and the PGA Tour Policy Board.
AIG Announces Pricing of Secondary Offering of Corebridge Financial, Inc. Common Stock
Retrieved on:
Friday, December 1, 2023
American International Group, Inc. (NYSE: AIG) today announced that it has priced the secondary offering of Corebridge Financial, Inc. (NYSE: CRBG) common stock at $20.50 per share.
Key Points:
- American International Group, Inc. (NYSE: AIG) today announced that it has priced the secondary offering of Corebridge Financial, Inc. (NYSE: CRBG) common stock at $20.50 per share.
- AIG, as the selling stockholder, has offered 35 million existing shares of common stock (out of approximately 630 million total shares of common stock outstanding) of Corebridge, corresponding to approximately $718 million of gross proceeds.
- AIG will remain a majority shareholder of Corebridge Financial upon completion of this offering.
- The offering of common stock is being made only by means of a prospectus and an accompanying prospectus supplement.
Rose Marie Glazer Named General Counsel of AIG
Retrieved on:
Thursday, November 30, 2023
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American International Group, Inc. (NYSE: AIG) today announced that Rose Marie Glazer, who served as Interim General Counsel since October 1, 2023, has been named General Counsel, with immediate effect, overseeing AIG’s legal, compliance, regulatory and government affairs functions.
Key Points:
- American International Group, Inc. (NYSE: AIG) today announced that Rose Marie Glazer, who served as Interim General Counsel since October 1, 2023, has been named General Counsel, with immediate effect, overseeing AIG’s legal, compliance, regulatory and government affairs functions.
- View the full release here: https://www.businesswire.com/news/home/20231130410663/en/
Ms. Glazer remains an Executive Vice President reporting to Peter Zaffino, AIG Chairman & Chief Executive Officer, and member of AIG’s Executive Leadership Team. - Mr. Zaffino stated: “The legal, business and governance expertise that Rose Marie has demonstrated during her tenure, including most recently as Interim General Counsel, reaffirms that she is uniquely qualified for this leadership position.
- Rose Marie has played an instrumental role in the significant progress we have made in positioning AIG as a top performing global insurer.
AIG Announces Launch of Secondary Offering of Corebridge Financial, Inc. Common Stock
Retrieved on:
Friday, December 1, 2023
American International Group, Inc. (NYSE: AIG) today announced the launch of a secondary offering of Corebridge Financial, Inc. (NYSE: CRBG) common stock.
Key Points:
- American International Group, Inc. (NYSE: AIG) today announced the launch of a secondary offering of Corebridge Financial, Inc. (NYSE: CRBG) common stock.
- AIG, as the selling stockholder, is offering 35 million existing shares of common stock (out of approximately 630 million total shares of common stock outstanding) of Corebridge and has granted a 30-day option to the underwriter to purchase up to an additional 5.25 million shares.
- AIG will remain a majority shareholder of Corebridge Financial upon completion of this offering.
- The last reported per share sale price of Corebridge Financial common stock on November 30, 2023 was $21.03.