AIG publishes first quarter 2023 results
Authored by AIG
- General Insurance delivered underwriting income of $502 million, representing the strongest first quarter underwriting results; Commercial Lines net premiums written (NPW) grew 6% year-over-year or 11% on a constant dollar basis and adjusted for the International lag elimination
- General Insurance combined ratio of 91.9% improved 1.0 point from the prior year quarter and adjusted accident year combined ratio* (AYCR) of 88.7% improved 0.8 point from the prior year quarter, marking the fifth consecutive year of margin improvement
- Life and Retirement reported a strong quarter with continued sales momentum and a 60-basis point improvement in base investment yield year-over-year
- Net income per diluted common share was $0.03, compared to $5.04 in the prior year quarter, and adjusted after-tax income attributable to AIG common shareholders* (AATI) per diluted common share was $1.63, an increase of 9% compared to $1.49 in the prior year quarter
- AIG repurchased $603 million of common stock in the first quarter and paid $241 million of dividends
- The AIG Board of Directors declared a cash dividend of $0.36 per share on AIG common stock, a 12.5% increase from prior quarterly dividends, commencing with the second quarter dividend, payable on June 30, 2023
To view the full results from AIG, CLICK HERE
About AIG
American International Group, Inc. (AIG) is a leading global insurance organization. AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions and other financial services to customers in approximately 70 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security.
In the UK, AIG is one of the largest companies specialising in the UK business insurance market. With offices throughout the country, we insure many of the UK’s top businesses, thousands of mid-sized and smaller companies, as well as many public sector organisations and millions of individuals.
With more than 60 years’ experience in the UK we have established an enviable reputation as a dynamic organisation with great cultural diversity. We strive to offer the most innovative solutions for our clients and are committed to helping our clients and our communities Reduce Risk, Recover from Setbacks and Realize Dreams.