AIG said net income attributable to AIG common shareholders rose $1.2 billion in the period ended March 31, 2024, and that pre-tax net realized gains on the Fortitude Re funds withheld embedded derivative increased by $1.2 billion.

1. 01

   AIG said net income attributable to AIG common shareholders rose $1.2 billion in the period ended March 31, 2024, and that pre-tax net realized gains on the Fortitude Re funds withheld embedded derivative increased by $1.2 billion.

2. 02

   The company said pre-tax income was $2.1 billion in Q1 2024 and $(231) million in Q1 2023, and adjusted pre-tax income was $1.9 billion and $1.6 billion, respectively.

3. 03

   News Corp said it repurchased about 23 million shares of AIG Common Stock for about $1.7 billion in Q1 2024, paid common stock dividends of $243 million, and redeemed all outstanding Series A Preferred Stock on March 15, 2024 for $500 million in cash.

4. 04

   The company said AIG Parent and its intermediate holding companies had liquidity resources of $9.6 billion as of March 31, 2024 and $12.1 billion as of December 31, 2023, including cash, short-term investments and a revolving credit facility of $4.5 billion.

Key figures

Quarter ended March 31, 2024

Revenue

$12.6B

Net income

$1.2B

EPS

$1.74

Operating cash flow

$519M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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