11/4/2021, 9:20 PM (Source: TeleTrader)
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AIG posts Q3 EPS of $0.97, beating estimates

American International Group (AIG) Inc. announced on Thursday that its earnings per share for the third fiscal quarter of 2021 amounted to 97 cents, beating estimates and increasing 19.8% from the same period in 2020.

Adjusted after-tax income attributable to common shareholders rose to $837 million, compared to $708 million recorded 12 months ago. Catastrophe losses were $628 million, compared to $790 million a year ago.

"AIG’s performance in the third quarter and through the first nine months of the year validates the strategy we have been executing on over the last few years ... we recently reached a significant milestone toward making Life and Retirement a standalone company by closing on the sale of a 9.9% equity stake to Blackstone. AIG is well on its way to becoming a top performing company that delivers sustainable profitable growth over the long-term," CEO Peter Zaffino said in a statement.

Baha Breaking News (BBN) / IB