AIG (AIG) Reports Q4 Loss of $2.72/Share; Approves Additional $3.5B Buyback
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AIG Reports Fourth Quarter 2016 Results
February 14, 2017 4:17 PM ESTTransformative Actions Taken During 2016
NEW YORK--(BUSINESS WIRE)-- American International Group, Inc. (NYSE: AIG) today announced results for the quarter and fiscal year ended December 31, 2016.
"We took decisive actions in 2016 to dramatically reduce uncertainty and deliver higher quality, more sustainable earnings in the future," said Peter D. Hancock, AIG President and Chief Executive Officer. "The comprehensive adverse reserve development cover significantly reduces the risk of further reserve additions in some of the most volatile lines, and we responded definitively to emerging severity trends that we believe are materially impacting the... More
AIG Board of Directors Authorizes Repurchase of Additional Shares of AIG Common Stock, Declares Common Stock Dividend
February 14, 2017 4:17 PM ESTNEW YORK--(BUSINESS WIRE)-- American International Group, Inc. (NYSE: AIG) today announced the following actions taken by its Board of Directors:
Authorized the repurchase of additional shares of AIG Common Stock with an aggregate purchase price of up to $3.5 billion. During 2016, AIG repurchased approximately $11.5 billion of AIG Common Stock and $309 million in warrants to purchase shares of AIG Common Stock (the Warrants), pursuant to prior authorizations from the Board of Directors. AIG repurchased an additional approximately $1.2 billion of AIG Common Stock through February 14, 2017. AIGs aggregate remaining share repurchase authorization, inclusive of todays... More