The business reported an underwriting profit for full year 2021 and for every quarter of the year, due to disciplined execution and volatility reduction in an environment of ever-increasing natural catastrophe risk. "General Insurance succeeded in producing more consistent underwriting results while achieving 13% net premiums written growth for the full year with 18% growth in Commercial Lines. "The quality of these outcomes is due to our global colleagues’ hard work, dedication and commitment to excellence in everything we do. We ended the year with parent liquidity of $10.7 billion. (NYSE: AIG) today reported financial results for the fourth quarter and full year ended December 31, 2021.ĪIG Chairman & CEO Peter Zaffino said: "In the fourth quarter and full year 2021, AIG delivered outstanding financial results with General Insurance continuing to produce improved underwriting profitability through excellent top line growth and vastly reduced volatility due to gross limit reductions and the strategic use of reinsurance, and Life and Retirement again making a meaningful contribution to our overall results. NEW YORK, February 16, 2022-( BUSINESS WIRE)-American International Group, Inc. Return on common equity (ROCE) and Adjusted ROCE* were 23.0% and 9.9%, respectively, on an annualized basis for the fourth quarter of 2021. Adjusted tangible book value per share was $62.82, an increase of 23% from December 31, 2020. Adjusted book value per common share* was $68.83, an increase of 21% from December 31, 2020. Total debt and preferred stock to total capital was 24.6% at Decemdown from 26.1% at September 30, 2021.Īs of December 31, 2021, book value per common share was $79.97, an increase of 5% from December 31, 2020. Net income attributable to AIG common shareholders was $3.7 billion, or $4.38 per diluted common share, compared to a net loss of $60 million, or $0.07 per common share, in the prior year quarter.ĪATI was $1.3 billion, or $1.58 per diluted common share, compared to $827 million, or $0.94 per diluted common share, in the prior year quarter due to strong underwriting performance in General Insurance. Life and Retirement APTI of $969 million reflects higher fee income, more than offset by lower net investment income and unfavorable mortality Life and Retirement return on adjusted segment common equity* for the fourth quarter was 13.7%, on an annualized basis. General Insurance adjusted pre-tax income (APTI) of $1.5 billion reflects strong underwriting results the combined ratio was 92.4, a 10.4 point improvement from the prior year quarter primarily due to strong underwriting results across the portfolio, including lower catastrophe (CATs) losses, net of reinsurance. Repurchased $1 billion of AIG common stock and $1 billion used towards debt reduction in the fourth quarter of 2021 for the full year, reduced debt by $4 billion and returned $3.7 billion to shareholders through $2.6 billion of AIG common stock repurchases and $1.1 billion of dividendsīook value and adjusted tangible book value* per common share increased 5% and 23%, respectively, from the prior year up 4% and 12%, respectively, from September 30, 2021 $10.7 billion of AIG Parent liquidity at year end 2021 Net income per diluted common share in the fourth quarter of 2021 was $4.38, compared to a net loss per common share of $0.07 in the prior year quarter, and adjusted after-tax income* (AATI) per diluted common share was $1.58, an increase of 68% from $0.94 in the prior year quarter General Insurance combined ratio in the fourth quarter of 2021 improved by 10.4 points from the prior year quarter to 92.4% and, on an as adjusted* basis, improved by 3.1 points to 89.8% General Insurance net premiums written grew 7% in the fourth quarter of 2021 compared to the prior year quarter and 13% for the full year driven by Global Commercial Lines growth of 13% in the fourth quarter and 18% for the full year
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