American International Group Inc Stock Forecast:
Based on the American International Group Inc stock forecast by 16 analysts, the average target price for the next 12 months is USD 67.36, and the average rating is Buy. Stock Target Advisor‘s analysis is Slightly Bullish, based on 6 positive and 3 negative signals. The current stock price is USD 49.88, which has decreased by 4.33% over the past week, increased by 0.02% over the past month, and decreased by 21.99% over the last year.
American International Group Inc. News:
American International Group Inc, one of the world’s biggest commercial insurers, has reported better-than-expected earnings for the first quarter of 2023. The company announced that its net premiums written in general insurance for the quarter ended March grew by 5% to $6.97 billion. AIG’s adjusted after-tax income attributable to the company’s common shareholders increased to $1.63 per share, up from $1.49 per share a year ago, surpassing analysts’ expectations of $1.42 per share.
The company’s strong performance was attributed to record underwriting gains that offset lower alternative investment returns. AIG’s general insurance underwriting income rose 13% to $502 million, the strongest first-quarter underwriting results in the company’s history. Total consolidated net investment income also increased by 9% to $3.5 billion, despite lower alternative investment income.
AIG’s success in the first quarter of 2023 is a testament to the company’s continued efforts to improve its financial performance. AIG has been implementing a three-year strategic plan to simplify its operations, improve underwriting profitability, and generate strong returns for shareholders. The company’s progress on this plan has resulted in improved underwriting results and better-than-expected earnings.
In a statement, AIG CEO Peter Zaffino expressed his satisfaction with the company’s performance, stating that “AIG delivered strong first-quarter results, reflecting our continued execution of the strategic plan, our relentless focus on underwriting profitability, and disciplined capital management.”
About American International Group Inc.:
American International Group Inc. (AIG:NYE) is a global insurance company that offers various insurance products for commercial, institutional, and individual customers. The company operates through two segments: General Insurance, which provides a wide range of commercial and industrial property insurance, liability insurance, and professional liability insurance, among others; and Life and Retirement, which offers individual retirement products, life insurance, and institutional markets products. American International Group, Inc. distributes its products through a network of brokers, agents, advisors, banks, and other distributors. The company was founded in 1919 and is headquartered in New York, New York.