The highlights suggest significant changes in American International Group (AIG). First, the Corporation has seen a decrease in its stock holdings by Axa S.A.. This change complements the news about the recruitment of Keith Walsh as the firm's CFO. This hire appears to be part of a broader restructuring given the announcement about Adam Burk's appointment as Global Treasurer & Head of Corporate Development.
There has been some controversy with AIG filing a lawsuit against former executives who inaugurated a competing insurer, Dellwood. On a positive note, despite lagging Q2 earnings, AIG's stock has seen relatively steady growth over the past three years, hence attracting analysts and shareholders.
Further, AIG is in the process of selling its global personal travel insurance business, including Travel Guard®, to Zurich for $600 million. Additionally, AIG has decided to sell a 20% stake of Corebridge to Japan's Nippon Life for $3.8 billion. This deal aligns with AIG's moving closer to completing the deconsolidation of Corebridge Financial. Moreover, AIG's Dividend has been bigger than last year, rewarding shareholders. Therefore, with these developments, AM Best has upgraded the ratings of AIG and its property/casualty subsidiaries to 'Excellent'.
American International Group AIG News Analytics from Sat, 04 Mar 2023 08:51:02 GMT to Sun, 29 Sep 2024 09:01:16 GMT - Rating 4 - Innovation -6 - Information 6 - Rumor -7
