Belgium-based KBC Group NV has increased its stake in the American International Group (AIG), despite a drop in the company's stock in recent weeks. Christopher Schaper has been appointed as AIG's Chief Risk Officer, while Keith Walsh steps in as the new CFO. The generative Artificial Intelligence (AI) technology which AIG has adopted is set to speed up underwriting processes.
Additionally, AIG's Q3 2024 earnings demonstrated strong growth, beating previous estimates with stronger-than-expected underwriting performance and robust investment returns. Victory Capital Management Inc. and Oppenheimer Asset Management Inc., however, reduced their stakes in AIG.
Further, AIG confirmed plans to sell its Global Personal Travel Insurance business - including Travel Guard - to Zurich, and a 20 percent stake in Corebridge to Japan's Nippon Life for $3.8 billion. These strategic moves have implications for the Q4 earnings.
American International Group AIG News Analytics from Sat, 04 Mar 2023 16:10:44 GMT to Sat, 16 Nov 2024 11:08:09 GMT - Rating 5 - Innovation 2 - Information 7 - Rumor 2
