HALISTER: AIG Posts $3.04b 4Q Loss, Trailing Expectations for Profit

AIG Posts $3.04b 4Q Loss, Trailing Expectations for Profit

(Bloomberg) -- AIG 4Q operating loss $2.72/share vs est. EPS 42c; 4Q included $3.56/share impact from prior year adverse reserve development.
  • Normalized ROE 4.8% vs 6.6% y/y
  • Book value per share $76.66 vs $85.02 q/q
  • Commercial insurance pre-tax operating loss $5.02b vs $2.43b loss y/y
  • Individual retirement pre-tax operating profit $542m vs $397m y/y
  • Group retirement pre-tax operating profit $261m vs $228m y/y
  • Life Insurance pre-tax operating loss $10m vs $24m profit y/y
  • Boosts share buyback authorizations by $3.5b; remaining authorization ~$4.7b
  • Says expense reduction is ahead of target
  • Reiterated two-year goal to return $25b to shareholders
  • Call 8am Feb. 15, webcast
  • NOTE: Jan. 31, Bloomberg Intelligence 4Q Preview: AIG May Deliver Reserve Pain With Strategic Gains
  • NOTE: Jan. 20, AIG to Pay Berkshire $9.8 Billion in Insurance Transfer Deal
  • Link to statement
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
AIG US (American International Group Inc)

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UUID: 7947283

HALISTER: Goldman Stock Hits Record on Bets Trump Will Unleash Wall Street

Goldman Stock Hits Record on Bets Trump Will Unleash Wall Street

Alert: HALISTER
Source: BN (Bloomberg News)

Tickers
GS US (Goldman Sachs Group Inc/The)

People
Donald Trump (United States of America)
Dina Powell (Goldman Sachs Foundation/The)
Elizabeth Warren (United States Senate)
Gary Cohn (United States of America)
Jan Hatzius (Goldman Sachs Group Inc/The)

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UUID: 7947283

HALISTER: Cigna Terminates Anthem Deal; Anthem Says Cigna Can’t End Pact

Cigna Terminates Anthem Deal; Anthem Says Cigna Can’t End Pact

(Bloomberg) -- Cigna reached out to Anthem to discuss options but unsuccessful: 8-K.
  • CI reaffirms adj. income from ops 12%-18% growth forecast
  • Expands share buyback authority to $3.7b
  • ANTM says CI doesn’t have rights to terminate pact
    • Remains committed to enforce rights under merger pact; remains committed to closing deal with CI: statement
  • CI seeks payment of $1.85b reverse termination fee, as well as additional damages in an amount exceeding $13b, which includes the lost premium value to Cigna’s shareholders caused by Anthem’s “willful breaches” of the pact
  • ANTM pares gains, drops 1.8%
  • CI pares gains, down 0.4%
  • NOTE: Feb. 13, Anthem Asks for Fast Appeal of Cigna Ruling to Save Merger
  • NOTE: Feb. 2, Cigna Says Capital Ready If Anthem Deal Fails
    • Feb. 9, After Two Megadeals Blocked, Health Insurers Plot Next Moves
  • NOTE: Earlier, Aetna, Humana Abandon $37b Merger Blocked by U.S. Judge
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
ANTM US (Anthem Inc)
CI US (Cigna Corp)
AET US (Aetna Inc)
HUM US (Humana Inc)

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UUID: 7947283

HALISTER: Cigna Sues Anthem as Merger Deal Is Terminated

Cigna Sues Anthem as Merger Deal Is Terminated

(Bloomberg) -- Cigna says it sued Anthem in Delaware Court of Chancery seeking declaratory judgments that its termination of the merger agreement is lawful and that Anthem isn’t permitted to extend the termination date.
  • CI seeks payment of $1.85b reverse termination fee, as well as additional damages in an amount exceeding $13b, which includes the lost premium value to Cigna’s shareholders caused by Anthem’s “willful breaches” of the pact
Filing: Link
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
ANTM US (Anthem Inc)
CI US (Cigna Corp)
1400L US (Delaware Court of Chancery)

Topics
Delaware Chancery Court

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UUID: 7947283