American International Group (AIG) 1Q15: Management Focused on the Right Things

AIG reported 1Q15 earnings [Source] and it is a good report. Management is focused on improving operating performance and rightly so as this will be the source of future returns for shareholders. Most management teams, the smart ones anyway, tell shareholders that shareholder returns are important to them. However their actions demonstrate if this is […]

American International Group (AIG) 4Q14: A Mixed but Refreshing Report

As we have seen in the past AIG’s earnings report [Source] this quarter was a mixture of good and bad news. It can be characterized as a quarter of “housekeeping” where the company takes hits in an effort to move forward with a clean slate. Reflecting on the new CEO Peter Hancock’s first two quarters at […]

American International Group (AIG) 3Q14 Update

American International Group (AIG) reported 3Q14 earnings [Source]. This is CEO Peter Hancock’s first earnings report following his promotion effective September 1, 2014. He summarizes the quarter this way: “The solid third quarter results were driven by consistent performance across our businesses. While no one quarter is a trend, our risk-adjusted return focus could be […]

American International Group (AIG) Reports 2Q14 Results; Thank you Mr. Benmosche!

American International Group (AIG) reported 2Q14 earnings [Source]. This is CEO Robert Benmosche’s last earnings report as he retires and assumes an advisory role with the company effective September 1, 2014. Under Bob Benmosche’s leadership AIG has recovered from its near collapse and has made amazing progress bringing focus back to the core insurance businesses, […]

A New Chapter for AIG

Robert Benmosche, CEO of AIG was confident that the sale of International Lease Finance Corporation (ILFC) to AerCap Holdings N.V. would close:  “we’re very confident that this transaction will in fact close in the second quarter.” His confidence was well placed. On May 14, 2014 AIG announced it had completed the sale [Source] for $3.0 billion […]

American International Group (AIG) Reports 1Q14 Results; Progress on a Bumpy Road

American International Group (AIG) reported 1Q14 earnings [Source]. The new trend with AIG quarterly reports is a mixture of good and not so good news. We discussed how things don’t move in a smooth ratable fashion and there will be bumps along the way. In that sense AIG did not disappoint, we have a mixture […]

American International Group (AIG) 3Q13 Mixed Results

American International Group (AIG) reported 3Q13 earnings on October 31, 2013 [Source]:  AIG reported net income of $2.2 billion for the 3Q13 compared to $1.9 billion for the 3Q12 and after tax operating income was $1.4 billion for 3Q13 compared to $1.6 billion for 3Q12. Diluted earnings were $1.46/share for 3Q13 compared to $1.13/share for 3Q12; and after tax operating […]

American International Group (AIG) 2Q13 Results

American International Group (AIG) reported 2Q13 earnings on August 2, 2013 [Source] with some nice surprises. It is another strong operating quarter with net income attributable to AIG at $2.7 billion up 17% from $2.3 billion in the 2Q12. Diluted earnings per common share that take important share count into consideration and recognize share repurchases over […]

AIG June 2013 Update

Our investment thesis remains on track. AIG is relying more on operation improvements and continues to make progress. Publication of the capital liquidity and restrictions under designation as a systemically important financial institution SIFI is expected soon and should eliminate a remaining uncertainty. After SIFI requirements are defined, it is anticipated management will be able to initiate capital allocation […]

American International Group (AIG) 1Q13 Results: Bring on Tomorrow!

American International Group (AIG) reported 1Q13 earnings on May 2, 2013 [Source]: It is a strong report as operating profits were $1.98 billion or $1.34/share compared to analysts’ expectations of $0.88/share. When compared to 1Q12, AIG’s profits fell 35% from $3.05 billion, or $1.71/share. The year ago Q12 results included $3.3 billion in pre-tax income from […]