American International Group Inc

We own AIG for its strong underwriting results and attractive valuation. AIG has achieved improved underwriting margins and expense discipline through a multi-year turnaround. Management reaffirmed Investor Day targets including low-to-mid teens premium growth in 2026, indicating a positive outlook for the company's performance.

We own AIG for its strong underwriting results and attractive valuation. AIG has achieved improved underwriting margins and expense discipline through a multi-year turnaround. Despite underperforming in the first quarter, we believe the company's fundamentals position it well for future growth.

American International Group (AIG) is a leading commercial insurance company, providing property-casualty insurance, life insurance, and risk management products. AIG reported results that we viewed as decidedly positive, with earnings per share up more than 50% from a year ago. Underwriting and investment income grew considerably, while the share count was down. We believe AIG is poised for further improvements in operating performance and has good management committed to smart allocation of its excess capital, which is not reflected in its valuation.

American International Group is positioned to benefit from rising premium growth due to recent natural disasters and increasing insured losses. The financial sector, including AIG, outperformed, and while short-term pressures from insured losses exist, the long-term outlook is positive. The insurance component of the S&P 500 trades at a significant discount compared to the broader index, indicating potential for value appreciation. With commercial insurance rates rising and a projected increase in full-year losses, AIG's strong cash-generating capabilities and fixed income investment portfolios add to its stability and growth potential.

American International Group Inc. (AIG) is a leading commercial insurance company, providing property- and casualty insurance, life insurance, and risk management products. Over the quarter, shares of AIG rose after the insurer authorized the repurchase of $7.5 bn of common stock and announced an ambitious 2025-2027 growth target for operating earnings per share. We believe AIG is poised for further improvements in operating performance. AIG has an improving return on equity and good management that is committed to smart allocation of its excess capital, which its current valuation does not fully reflect.

American International Group Inc. (AIG) is a leading commercial insurance company, providing property-casualty insurance, life insurance, and risk management products. Over the quarter, shares of AIG rose after the insurer authorized the repurchase of $7.5 bn of common stock and announced an ambitious 2025-2027 growth target for operating earnings per share. We believe AIG is poised for further improvements in operating performance. AIG has an improving return on equity and good management that is committed to smart allocation of its excess capital, which its current valuation does not fully reflect.