AIG Reports Second Quarter 2017 Results

On August 2, 2017, AIG released its Q2, 2017 financials. In a nutshell…

AIG reported net income of $1.1 billion for Q2 2017, compared to $1.9 billion in the prior-year quarter, primarily reflecting net realized capital losses of $69 million compared to net realized capital gains of $1.0 billion a year ago:

Commercial insurance net premiums written decreased by 15%:

Commercial insurance combined ratio of 102.7:

Personal insurance net premiums written decreased by 3%:

Personal insurance combined ratio of 91.1:

Final thoughts. “Our second quarter results show the value of AIG’s diverse businesses and the opportunities we have to grow profitably,” said Brian Duperreault, President and CEO. “We will build on AIG’s strong franchise by maximizing the value of our international footprint, which distinguishes us from many of our competitors. While market conditions remain challenging, we are committed to disciplined underwriting and are focused on investing in profitable growth.” Last one. “Going forward, we will no longer be providing guidance on targets. Financial targets are important in how we manage the company, but they have to be put in balance.” Bottom Line: this is Brian Duperreault’s approval rating, per Glassdoor:

To be continued next quarter.