American International Group (AIG) 2Q13 Results

American International Group (AIG) reported 2Q13 earnings on August 2, 2013 [Source] with some nice surprises. It is another strong operating quarter with net income attributable to AIG at $2.7 billion up 17% from $2.3 billion in the 2Q12. Diluted earnings per common share that take important share count into consideration and recognize share repurchases over […]

Company Updates and Earnings Release Schedule

AIG Will Not Contest SIFI Designation: American International Group announced on June 3, 2013 that it received notice from the U.S. Treasury that the Financial Stability Oversight Council proposed that AIG is a systemically important financial institution (SIFI) under the Wall Street Reform and Consumer Protection Act. General Electric’s Financial Unit, GE Capital and Prudential […]

AIG June 2013 Update

Our investment thesis remains on track. AIG is relying more on operation improvements and continues to make progress. Publication of the capital liquidity and restrictions under designation as a systemically important financial institution SIFI is expected soon and should eliminate a remaining uncertainty. After SIFI requirements are defined, it is anticipated management will be able to initiate capital allocation […]

American International Group (AIG) 1Q13 Results: Bring on Tomorrow!

American International Group (AIG) reported 1Q13 earnings on May 2, 2013 [Source]: It is a strong report as operating profits were $1.98 billion or $1.34/share compared to analysts’ expectations of $0.88/share. When compared to 1Q12, AIG’s profits fell 35% from $3.05 billion, or $1.71/share. The year ago Q12 results included $3.3 billion in pre-tax income from […]

Measuring AIG Going Forward

Over the past number of conference calls management has emphasized debt reduction and interest coverage as the highest priority near term. They are focused on cost reductions, interest expense reductions and improving the interest coverage ratio. “As the year progresses, we will then begin to look at things like could we add a dividend to the […]

American International Group (AIG) 4Q12 Results: What a Year

American International Group (AIG) reported 4Q12 earnings on February 21, 2013 [Source]; the results beat Wall Street expectations although the company did not meet all of its performance targets. However, it was an outstanding year showing progress on many fronts and demonstrating the earnings power that will provide shareholder returns for years to come. Bob Benmosche, […]

Value by George Portfolio 2012 Results

Investment results for 2012, our first year, were good on an absolute and a relative basis when compared to the Standard & Poor 500. Calendar year and annualized results are presented below. The investments are made at the time the investment idea is posted. Because the portfolio was built over the course of the year it […]

AIG Announces Sale of AIA Group Limited

NEW YORK–(BUSINESS WIRE)–Dec. 16, 2012– American International Group, Inc. (NYSE: AIG) announced today that it has commenced a sale in Hong Kong of up to all of its ordinary shares of AIA Group Limited (AIA) by means of a placing to certain institutional investors. AIG expects to use the net proceeds from the placing of […]

Treasury Exits AIG; Valuation Update

The U.S. Department of the Treasury announced that it is offering all of its remaining 234 million AIG shares for sale at $32.50/share for a total $7.6 billion. The offering is expected to be completed on Friday. This sale ends government ownership and combined with the recently announced International Lease Finance Corporation (ILFC) sale will eliminate the remaining major […]

American International Group (AIG) Announces Sale of ILFC

Well, that was fast; talks reported Friday 12/7 agreement announced Sunday 12/9. First the announcement in part: AIG Announces Agreement to Sell up to 90 Percent of International Lease Finance Corporation (ILFC): ILFC Headquarters to Remain in Los Angeles; Existing Management to Operate ILFC NEW YORK–(BUSINESS WIRE)–Dec. 9, 2012– American International Group, Inc. (NYSE: AIG) and […]