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)

To de-activate this alert, click here

UUID: 7947283