AIG Stock Dips Following Q4 Results

American International Group, Inc. AIG reported its fourth-quarter financial results after the bell Tuesday. Here's a look at the highlights.

The Details:

AIG reported quarterly earnings of $1.79 per share which beat the analyst consensus estimate of $1.64 by 9.15%. The company reported fourth-quarter net premium written of $5.61 billion, an increase of 3% year-over-year.

AIG reported total net investment income for the fourth quarter of 2023 was $3.9 billion, an increase of 21% from $3.3 billion year-over-year, primarily driven by higher income from fixed maturity securities and loans due to higher reinvestment rates.

“In 2023, AIG delivered outstanding financial results, highlighted by excellent underwriting performance and the successful execution of multiple complex initiatives, while delivering exceptional value for our clients and stakeholders. Our substantial progress reflects the dedication and teamwork of our AIG colleagues around the world, who have delivered on our objectives,” said Peter Zaffino, AIG CEO.

“The full year adjusted after-tax income per diluted share increased 33% from the prior year to $6.79. We have further repositioned AIG for the future with the divestitures of Validus Re and Crop Risk Services, and we enter 2024 with significant momentum,” Zaffino added.

Related News: Lyft Stock Races Higher After Q4 Results

AIG Price Action: According to Benzinga Pro, American International Group shares are trading down 1.51% after-hours at $69.03 at the time of publication.

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