Q4 snap: underwhelming and very messy result
By and large, AIG's 4Q17 result was disappointing. The absolute loss was larger than we were anticipating at $6.7bn (vs AE at -$5.5bn) and adjusted EPS was soft at $0.57 (vs consensus at $0.74). Focus is likely to be on the weak premium growth in Commercial P&C (down 19% in North America), which management attributed to ongoing remediation actions, and the deteriortation in the International P&C underlying combined ratio to 107.5%, up 5.5pp YoY. Life & Retirement was also below our expectations. Going forward, management will need to demonstrate that AIG can deliver an acceptable ROE following several years of disappointing returns for long-suffering shareholders.American International Group is a holding company. Through its subsidiaries, the company provides a range of property casualty insurance, life insurance, retirement solutions, and other financial services. The company's businesses include General Insurance, which provides insurance products and services for commercial and personal insurance customers; Life and Retirement, which brings together a portfolio of life insurance, retirement and institutional products provided through a multichannel distribution network; and Other Operations, which include Blackboard U.S. Holdings, Inc., a subsidiary focused on delivering commercial insurance solutions using digital technology, data analytics and automation.
Formed in 2003 by an established team from Cazenove, one of the most respected investment banks in the UK, Atlantic Equities conducts and publishes fundamental, bottom up research on mid and large cap US companies.
Atlantic provide order execution through a wide range of DMA products and algorithmic trading suites.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.