Last $51.21 USD
Change Today -0.30 / -0.58%
Volume 12.1M
As of 4:00 PM 01/26/15 All times are local (Market data is delayed by at least 15 minutes).

american international group (AIG) Snapshot

Open
$51.32
Previous Close
$51.51
Day High
$51.57
Day Low
$51.00
52 Week High
12/30/14 - $56.79
52 Week Low
02/3/14 - $46.80
Market Cap
71.7B
Average Volume 10 Days
9.0M
EPS TTM
$5.66
Shares Outstanding
1.4B
EX-Date
12/2/14
P/E TM
9.0x
Dividend
$0.50
Dividend Yield
0.98%
Current Stock Chart for AMERICAN INTERNATIONAL GROUP (AIG)

american international group (AIG) Details

American International Group, Inc. provides insurance products and services for the commercial, institutional, and individual customers in the United States and internationally. The company operates in two segments: AIG Property Casualty, and AIG Life and Retirement. The AIG Property Casualty segment offers casualty insurance products that cover general liability, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance; industrial energy-related and commercial property insurance products, which cover exposures to man-made and natural disasters; aerospace, environmental, political risk, trade credit, surety and marine insurance products for small and medium sized enterprises; and various forms of professional liability insurance products. It also provides personal accidental and supplemental health products for individuals, employees, associations, and other organizations; and life products, as well as a range of travel insurance products and services for leisure and business travelers. This segment distributes its insurance products and services through brokers, agents, and direct marketing and partner organizations, as well as the Internet. The AIG Life and Retirement segment offers a suite of products and services to individuals and groups, including term life insurance, universal life insurance, accident and health insurance, fixed and variable group annuities, administrative and compliance services, mutual funds, and financial planning. This segment distributes its products through banks, broker-dealers, financial advisors, independent marketing organizations, insurance agents, structured settlement brokers, benefit consultants, and direct-to-consumer platforms. The company also provides private residential mortgage guaranty insurance and direct investment book services; and derivatives intermediary services. American International Group, Inc. was founded in 1919 and is based in New York, New York.

64,000 Employees
Last Reported Date: 02/20/14
Founded in 1919

american international group (AIG) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $1.5M
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $988.3K
Executive Vice President of Investments
Total Annual Compensation: $987.3K
Advisor
Total Annual Compensation: $2.3M
Compensation as of Fiscal Year 2013.

american international group (AIG) Key Developments

American International Group, Inc. Announces the Launch of Value+IUL

American International Group, Inc. announced the launch of Value+IUL,an index universal life insurance product issued by American General Life Insurance Company. The Value+ IUL solution is designed to provide flexible business and personal financial protection at a price, and two unique options to access cash value in the policy without reducing the initial death benefit. This product is the direct result of focus groups and interviews with life insurance producers from across America, and builds on more than 20 years of expertise in the IUL market. Value+ IUL offers meaningful guarantees, and flexibility in the form of special features and interest crediting strategies that help reduce costs and deliver maximum value. As agents and advisors can explain to clients, this is Life insurance with Optionality. While most insurance policies lock in cash, Value+ IUL includes two unparalleled provisions for accessing excess cash value in the policy without decreasing the initial death benefit.1 Accessed cash value can be used to purchase additional, paid-up life insurance without further underwritingor for anypurpose, including supplementalretirement income. The two distinctive access options include: Access to cash if strong index performance â “ If values in the policy exceed benchmark assumptions due to strong index performance, this one-of-a-kind liquidity option allows clients to withdraw excess cash value, either in policy year 20 or at age 85, with no reduction in the initial death benefit or to the length of the death benefit guarantee. If they choose, clients can use the cash value to buy additional, paid-up life insurance without further underwriting. Access to cash from excess funding If the client pays extra into the policy to achieve additional, tax-advantaged growth, he or she can use this unique liquidity option to withdraw excess premiums in policy year 20, with no decrease in the initial death benefit, if there is available cash surrender value in the policy. The Value+ IUL product also offers an early cash value access option with unlocked surrender charges. If the policy is funded early (for example, through a single-pay premium or a policy transfer from another carrier), the client may withdraw funds above the cumulative benchmark premium in years 3 through 14, to the extent that accumulation value is available, and with no surrender charge penalties. The funds are not locked in. While Value+ IUL is not an investment, it provides clients with the potential to earn index interest crediting based in part on an underlying index while providing downside market protection. Index interest will be based in part on the performance of the selected indices, but will never be less than 0.25% per year. Also, after year five, the policy will automatically begin receiving an account value interest enhancement of 0.75% per year. This percentage is guaranteed never to decrease. Value+ IULoffers three crediting strategies. Clients may allocate funds to a single strategy or to a combination of two or three: an Index Interest Cap Account, with interest crediting based in part on annual growth of the S&P 500,2 along with an annual cap. The index interest account will never be credited less than 0.25%, regardless of index performance. a Strategic Participation Index Account, with interest crediting based in part on a proprietary ML Strategic Balanced IndexSM,3 a combination of the S&P 500 and the Merrill Lynch 10-Year Treasury Futures (Total Return) Index, subject to a participation rate. This index account will never be credited less than 0.25%, regardless of index performance. A Declared Interest Account, with crediting declared by the issuing insurance company, with an annual minimum guaranteed rate of 2.00%. Value+ IUL also offers the potential for living benefits through the Accelerated Access Solution, available at an additional fee. This rider allows policy holders access to a portion of the death benefit, income tax free (based on current tax laws), if they meet all eligibility requirements, including being certified by a licensed physician as chronically ill, with the condition expected to be permanent. When the rider is triggered (after a 90-day elimination period), the policy holder can take 2% or 4% of the benefit amount per month, or can choose the IRS per-diem maximum (as adjusted annually for inflation) to cover medical or virtually any other bills. A waiver of deduction on the entire Value+ IUL policy applies as long as the policy holder is on claim.

AIG Appoints Phil Somers as Head of Sales for the North

AIG has named CNA Insurance head of UK regions Phil Somers as head of sales for the north. Prior to his stint at CNA, Somers worked at AIG for a number of years in various regional underwriting management capacities in Leeds and Manchester.

AIG Announces Retirement of Tom Colraine as Chief Financial Officer for EMEA

AIG's chief financial officer for EMEA Tom Colraine has retired after seven years with the company. He will be succeeded as CFO of AIG Europe by James Lenton. Colraine joined AIG in 2007 as non-executive director & chairman of the audit committee for AIG Insurance UK. He was appointed COO in 2009. Prior to AIG, Tom spent 18 years at Willis in a number of leadership positions, including CFO, and vice-chairman and Co-COO. Colraine will continue to be actively involved in the finance community through his recent appointment as an independent director of the wealth management division of Schroders. He is also looking forward to spending more time with his family and his twin passions - golf and horse-racing.

 

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AIG

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Price/Cash Flow 8.1x
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