AIG Passes JPMorgan, Approaches Wells Fargo on Buybacks: ChartBloomberg News
American International Group Inc., the insurer that is selling assets to simplify the company, has passed JPMorgan Chase & Co. on the list of financial firms spending the most on share buybacks.
AIG has repurchased $9.18 billion in the 12 months ended Sept. 30 and will release a full-year tally next month. That compares with $5.61 billion for New York-based JPMorgan in 2015. Among the 88 companies in the S&P 500 Financials Index only Wells Fargo & Co. has spent more on buybacks in its most recently disclosed 12-month period, at $9.45 billion. AIG Chief Executive Officer Peter Hancock said Tuesday that the company plans to return $25 billion to shareholders over the next two years.
— With assistance by Brandon Kochkodin