American International Group, Inc. (NYSE:AIG) Q4 2023 Earnings Conference Call February 14, 2024 8:30 AM ET Company Participants Quentin McMillan - Vice President, Managing Director and Head of Investor Relations Peter Zaffino - Chairman & Chief Executive Officer Sabra Purtill - Executive Vice President & Chief Financial Officer David McElroy - Executive Vice President & Chief Executive Officer, General Insurance Conference Call Participants Michael Zaremski - BMO Meyer Shields - KBW Elyse Greenspan - Wells ...

Fourth Quarter and Full Year 2023 Financial Results Presentation February 14, 2024 Copyright ® 2024 by American International Group, Inc. All rights reserved. No part of this document may be reproduced, republished or reposted without the permission of AIG. Group Performance Strategy Capital 4Q’23 Results FY’23 Results Investments Fourth Quarter Operating EPS* Increased 29% from Prior Year ...

For the quarter ended December 2023, American International Group (AIG) reported revenue of $12.72 billion, up 4.6% over the same period last year. EPS came in at $1.79, compared to $1.36 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $11.6 billion, representing a surprise of +9.65%. The company delivered an EPS surprise of +12.58%, with the consensus EPS estimate being $1.59.While investors closely watch year-over-year changes in headline numbers -- revenue and ear ...

American International Group (AIG) came out with quarterly earnings of $1.79 per share, beating the Zacks Consensus Estimate of $1.59 per share. This compares to earnings of $1.36 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 12.58%. A quarter ago, it was expected that this insurer would post earnings of $1.55 per share when it actually produced earnings of $1.61, delivering a surprise of 3.87%.Over the last four quarters, t ...

Core Insights - AIG reported strong financial results for 2023, with adjusted after-tax income per diluted share increasing by 33% to $6.79, reflecting excellent underwriting performance and strategic initiatives [1][6][5] - The company achieved a 15% year-over-year increase in underwriting income within General Insurance, totaling $2.3 billion, with a combined ratio improvement of 130 basis points to 90.6% [2][3] - Life & Retirement segment saw total premiums and deposits exceed $40 billion, benefiting from spread expansion and strong sales [3][14] General Insurance Performance - General Insurance net premiums written rose by 5% year-over-year, driven by a 17% increase in Lexington and a 10% increase in Global Specialty [3][12] - The accident year combined ratio improved to 87.7%, a 100 basis point improvement year-over-year, indicating effective management of underwriting risks [2][13] - North America Commercial Lines pricing increased by 7%, outpacing loss cost trends, while global commercial pricing rose by 6% [3][12] Life & Retirement Segment - Life & Retirement adjusted pre-tax income increased by 12% to $957 million, with Individual Retirement segment showing a significant 34% growth [14][16] - Total premiums and deposits in the Life & Retirement segment grew by 20% to $10.6 billion, driven by strong pension risk transfer volumes [16][14] - Net investment income for Life & Retirement on an APTI basis increased by 15% to $2.6 billion, reflecting higher income from fixed maturity securities and loans [16][15] Capital Management and Shareholder Returns - AIG reduced financial debt by $1.4 billion and returned approximately $4 billion to shareholders through stock repurchases and dividends, including a 12.5% increase in the common stock dividend [4][5] - The company maintained a strong liquidity position with $7.6 billion as of December 31, 2023, up $4 billion from the previous quarter [8][4] - Book value per common share increased by 16% from the previous quarter to $65.14, driven by a decrease in accumulated other comprehensive loss [8][11] Future Outlook - AIG enters 2024 with significant momentum, focusing on excellent underwriting, operations, and claims service to drive continued growth [5][1] - The company plans to deconsolidate Corebridge in 2024, which is expected to enhance visibility into its business and capital structure [4][5]

Core Viewpoint - American International Group (AIG) is expected to outperform consensus estimates in its fiscal Q4 2023 results, with projected revenues showing year-on-year growth despite previous mixed results [1][3]. Financial Performance - AIG reported total revenues of $12.78 billion in the last quarter, which was 9% lower than the previous year due to reduced premiums and a decline in net realized gains [1]. - For the first nine months of 2023, AIG's revenues decreased 13% year-on-year to $36.98 billion, while total premiums improved by 10% [3]. - Net investment income (NII) increased by 25% year-on-year during the same period, with expectations for similar performance in Q4 [3]. Earnings Estimates - AIG's fiscal Q4 2023 revenues are forecasted to be around $12.91 billion, which is 3% above the consensus estimate of $12.51 billion [3]. - The adjusted earnings per share (EPS) for Q4 2023 is expected to be $1.72, 5% higher than the consensus estimate of $1.64 [4]. - The annual GAAP EPS for FY2023 is projected to be $6.68 [4]. Stock Valuation - AIG's valuation is estimated at $78 per share, which is 12% higher than the current market price [2][5]. - The valuation is based on a GAAP EPS estimate of $6.68 and a P/E multiple of just below 12x for fiscal 2023 [5].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 —————————— FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-8787 American International Group, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpor ...

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American International Group, Inc. (AIG) is set to report its fourth-quarter 2023 results on Feb 13, after the closing bell.What Do the Estimates Say?The Zacks Consensus Estimate for fourth-quarter earnings per share of $1.59 has remained stable over the past week. The estimate is indicative of a 16.9% increase from the year-ago quarter’s reported earnings of $1.36 per share. However, the Zacks Consensus Estimate for revenues is pegged at $11.6 billion, suggesting a decline of 4.6% from the year-ago quarter ...

Wall Street analysts forecast that American International Group (AIG) will report quarterly earnings of $1.59 per share in its upcoming release, pointing to a year-over-year increase of 16.9%. It is anticipated that revenues will amount to $11.6 billion, exhibiting a decline of 4.6% compared to the year-ago quarter.Over the last 30 days, there has been a downward revision of 4% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective recon ...