American International Group Inc

Announcement: AIG 8-K Special Filing

PART 1: Performance Analysis

American International Group, Inc. (AIG) reported a strong financial performance during the first quarter of 2023. The company's net income attributable to common shareholders for the period was $1.8 billion, compared to $1.1 billion reported in the same period last year. The company's adjusted after-tax income for the quarter came in at $1.6 billion, compared to $704 million in the same period last year. AIG's total consolidated revenue for the period was $12.7 billion, up from $11.9 billion in the same period last year.

The company's strong performance was mainly driven by the general insurance and life and retirement segments. The general insurance segment delivered solid underwriting results and significant improvements in internal expenses, resulting in a combined ratio of 93.4%, compared to 96.8% in the same period last year. The life and retirement segment generated strong adjusted pre-tax income of $1.2 billion, reflecting higher net investment income and a favorable impact from unlocking actuarial assumptions.

AIG's CEO Brian Duperreault noted that the company's strong performance in the first quarter was a result of effective execution of the company's strategic priorities, driving sustainable profitability and creating value for shareholders.

PART 2: Forward-looking Analysis

Looking forward, AIG expects to build on its strong financial performance in the first quarter and continue to deliver profitable growth in the future. The company plans to focus on generating consistent underwriting profits in the general insurance segment and driving growth in the life and retirement segment. AIG intends to continue taking strategic steps to optimize its portfolio and capitalize on market opportunities.

The company also highlighted that it is well-positioned to benefit from an improving macroeconomic environment, which is expected to support growth in its key markets. AIG expects modestly higher interest rates to drive higher investment income, while increased global economic activity is expected to support growth in insurance premiums.

Overall, AIG's strong financial performance in the first quarter of 2023, combined with its focus on executing strategic priorities and capitalizing on market opportunities, positions the company for strong growth in the future. However, investors should also be aware of the potential risk factors that AIG has highlighted, including the impact of adverse economic and market developments, non-performance or defaults by counterparties, regulatory changes, and changes in accounting principles and financial reporting requirements.

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Form 10-Q - Quarterly report [Sections 13 or 15(d)]

AIG outperforms expectations, reports $1.8B net income

Form 8-K - Current report - Item 2.02 Item 8.01 Item 9.01

Form 8-K - Current report - Item 8.01 Item 9.01