AIG (AIG) Tops Q4 EPS by 3c

AIG (NYSE: AIG) reported Q4 EPS of $1.03, $0.03 better than the analyst estimate of $1.00.

• Net income attributable to AIG common shareholders was $922 million, or $1.03 per diluted common share, for the fourth quarter of 2019, compared to a net loss attributable to AIG common shareholders of $622 million, or $0.70 per common share, in the prior-year quarter.
• Adjusted after-tax income attributable to AIG common shareholders* was $919 million, or $1.03 per diluted common share, for the fourth quarter of 2019, compared to an adjusted after-tax loss attributable to AIG common shareholders of $559 million, or $0.63 per common share, in the prior-year quarter.
• General Insurance posted a combined ratio of 99.8 and an accident year combined ratio, as adjusted*, of 95.8, compared to 115.0 and 98.8, respectively, in the prior-year quarter, driven by lower catastrophe losses, continued underwriting and reinsurance actions, and expense discipline. For full year 2019, General Insurance posted a combined ratio of 99.6 and an accident year combined ratio, as adjusted, of 96.0, compared to 111.4 and 99.7, respectively, in the prior year.
• Life and Retirement adjusted pre-tax income of $839 million compared to $623 million in the prior-year quarter.
• Total consolidated net investment income was $3.6 billion in the fourth quarter of 2019 compared to $2.8 billion in the prior-year quarter, reflecting higher alternative investment returns.
• Book Value per common share was $74.93 at December 31, 2019, an increase of 15% compared to December 31, 2018. Book value per common share excluding accumulated other comprehensive income (AOCI) and deferred tax assets (DTA) (Adjusted book value per common share)* was $58.89, an increase of 7% compared to December 31, 2018.
• Return on Common Equity (ROCE) and Return on Common Equity excluding AOCI and DTA (Adjusted ROCE)* were 5.3% and 8.3%, respectively, for the twelve months ended December 31, 2019.

For earnings history and earnings-related data on AIG (AIG) click here.

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