AIG Q2 2021 Earnings Report
Key Takeaways
AIG reported a strong second quarter with General Insurance delivering excellent results, and Life and Retirement contributing meaningfully. The company is making progress on AIG 200 and the separation of Life and Retirement. Strategic partnership with Blackstone was announced, and the share buyback authorization was increased to $6 billion.
Net premiums written in General Insurance grew by 24%.
General Insurance reported a combined ratio of 92.5, inclusive of catastrophe losses.
Life and Retirement adjusted pre-tax income increased 26% to $1.1 billion.
AIG Board of Directors increased share buyback authorization to $6 billion.
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Forward Guidance
AIG expects to repurchase at least $2 billion in common stock and reduce debt outstanding by $2.5 billion in the second half of 2021.