AIG (AIG) Misses Q3 EPS by 46c

AIG (NYSE: AIG) reported Q3 EPS of ($0.34), $0.46 worse than the analyst estimate of $0.12.

• Net loss of $1.3 billion, or $1.41 per share, for the third quarter of 2018, compared to a net loss of $1.7 billion, or $1.91 per share, in the prior-year quarter
• Adjusted after-tax loss of $301 million, or $0.34 per share, for the third quarter of 2018, compared to an adjusted after-tax loss of $1.1 billion, or $1.22 per share, in the prior-year quarter
• Net pre-tax catastrophe losses of $1.6 billion ($1.3 billion after-tax or $1.45 per share) within previously disclosed range
• Net prior year loss reserve development was flat year-to-date, including net unfavorable prior year loss reserve development of $170 million in the third quarter of 2018
• General Insurance focus continues on key strategic priorities including underwriting, reinsurance and expense reduction
• Life and Retirement delivered another quarter of solid double-digit adjusted ROEs and sales growth in Individual and Group Retirement and Life Insurance
• Share and warrant repurchases of $350 million for the third quarter of 2018 and $1.0 billion year-to-date

For earnings history and earnings-related data on AIG (AIG) click here.

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