AIG Financial Metrics and Share Movement

American International Group, Inc. (AIG) has released selected financial information reflecting the treatment of Corebridge Financial, Inc. as discontinued operations for the periods from 1Q23 to 4Q23 and 1Q24. Following the deconsolidation of Corebridge, AIG's historical consolidated statement of operations has been recast to present the impact on certain selected metrics. Here are the key changes in financial metrics:

  1. Revenues: The premiums for 1Q23 amounted to $6,614 million, which decreased to $6,376 million in 4Q23.
  2. Net Investment Income: Net investment income, excluding Fortitude Re funds withheld assets, decreased from $827 million in 2Q23 to $792 million in 1Q24.
  3. Net Realized Gains (Losses): The total net realized gains (losses) decreased from a loss of $14 million in 1Q23 to a loss of $511 million in 4Q23.
  4. Income (Loss) from Continuing Operations: AIG's recasted income from continuing operations increased from $402 million in 1Q23 to $1,058 million in 4Q23.
  5. Net Income (Loss) Attributable to AIG Common Shareholders: It increased from $23 million in 1Q23 to $1,194 million in 4Q23.
  6. Adjusted Pre-tax Income: AIG's adjusted pre-tax income increased from $1,041 million in 1Q23 to $1,160 million in 4Q23.
  7. Adjusted After-tax Income: AIG's adjusted after-tax income attributable to common shareholders increased from $777 million in 1Q23 to $868 million in 4Q23.

These figures demonstrate notable changes in AIG's financial performance following the treatment of Corebridge as discontinued operations. Following these announcements, the company's shares moved -1.7%, and are now trading at a price of $74.69. Check out the company's full 8-K submission here.

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