Company overview, corporate earnings and latest news.
American International Group (AIG) has completed the long-anticipated separation of Corebridge Financial, its former life and retirement unit.
American International Group reported strong financial results in the first quarter off strong life and retirement sales and lower catastrophic losses.
Corebridge Financial reported a $1.3 billion loss in the fourth quarter as it nears full separation from American International Group.
General Insurance: AIG provides a range of insurance products for commercial, institutional, and individual customers, including specialized forms like political risk and trade credit insurance.
Life Insurance: They offer various life insurance products to provide financial security to individuals and families.
Retirement Solutions: AIG offers products and services like annuities and mutual funds to help clients secure their financial futures.
Investment Management: AIG’s asset management arm provides a wide array of investment management and advisory services.
Private Client Group: This unit provides personalized insurance solutions for high-net-worth individuals and families, including coverage for homes, automobiles, art collections, personal liability, and more.
Direct Sales: AIG has a team of agents and brokers who sell their products and services directly to consumers.
Online Platforms: Through its digital platform, AIG allows customers to purchase and manage policies and investment products directly.
Financial Advisors and Brokers: AIG works with a network of independent financial advisors and brokers who provide advice and recommend AIG’s products based on the customer’s specific needs.
Institutional Partnerships: AIG collaborates with other financial institutions to distribute its products to a broader market.
Private Client Services: Tailored to high-net-worth individuals and families, this platform provides bespoke insurance solutions through dedicated relationship managers.
$0.03
American International Group, Inc. · Earnings Per Share (EPS) · FY23 Q1
AIG (selling as Corebridge Financial) Ranked 2nd • Total Annuity Sales, with $6.25 billion. Q1 2023.
American International Group, Inc. (AIG), a multinational finance and insurance corporation, was founded in Shanghai, China, in 1919 by Cornelius Vander Starr. The company’s initial operations focused on insurance and risk management. AIG established its headquarters in New York City in 1939. Over the decades, AIG has expanded its services to over 80 countries and jurisdictions, offering a broad range of products, including Liability, Financial Lines, Property, Global Specialty, Crop Risk Services, Personal Lines and Accident and Health.
The company’s general insurance segment provides insurance products for commercial, institutional, and individual customers, including more specialized offerings, such as insurance covering political risk. Its life and retirement segment offers protection, investment, and income solutions needed for financial and retirement security. In 2021, AIG began a long process to separate its life and retirement operations into a standalone company, Corebridge Financial. AIG is underwriting a decreasing amount of Corebridge business each year until the full separation is complete.
AIG’s resilience and adaptability were tested during the 2008 financial crisis when it received a significant government bailout. However, since then, the company has repaid this debt and restructured its operations. AIG’s extensive global footprint, diverse product offerings, strong underwriting capabilities, and focus on technology-driven solutions contribute to its industry-leading position.
