In recent times, American International Group (AIG) has made significant strides such as spearheading the launch of Syndicate 2478 at Lloyd’s through a long-term relationship with Blackstone and selling 21.6% of Corebridge to Nippon Life for $3.8bn. Despite these developments, the company's share price has underperformed due to insufficient growth. Nevertheless, AIG has shown signs of resilience with a 0.4% downturn since the last earnings report and affirmed credit ratings for AIG and its property/casualty subsidiaries. AM Best’s seal of approval is indeed a positive indication.
AIG indicated financial prudence by successfully selling notes and reducing stakes, offering a promising impression. The company has also made strategic appointments across board and executive levels, including Keith Walsh as Executive Vice President and Chief Financial Officer, and Christopher Schaper as Chief Risk Officer. Furthermore, the company plans to expand its Atlanta footprint with an innovation hub and over 600 new jobs.
Despite missing EPS estimates, AIG has demonstrated potential on underwriting strength and investment returns. This was evident in their Q3 report beating the estimates. However, market watchers seem mixed as some downgrade AIG to 'market perform' while others view AIG as a good undervalued stock to invest in presently.
American International Group AIG News Analytics from Sat, 04 Mar 2023 08:51:06 GMT to Sat, 14 Dec 2024 10:52:50 GMT - Rating 2 - Innovation -2 - Information 6 - Rumor -4
