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Top related persons:
Simon Dawson - 1 Amanda Blanc - 1 Blanc - 1 Peter Zaffino - 1 Corebridge - 1 Iain Withers - 1 Louise Heavens - 1
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Aviva - 1 REUTERS - 1 AIG - 1 British - 1 AIG Life - 1 Corebridge - 1 Inc - 1 RBC - 1

Search resuls for: "Peter Zaffino"


5 mentions found


☆ Aviva to buy AIG's UK life insurance business for $563 million
  + stars: | 2023-09-25 | by ( Iain Withers | ) www.reuters.com   time to read: +2 min
A pedestrians walks past the Aviva logo outside the company head office in the city of London, Britain March 7, 2019. REUTERS/Simon Dawson/file photo Acquire Licensing RightsLONDON, Sept 25 (Reuters) - Aviva (AV.L) said on Monday it had agreed to buy the UK life insurance business of AIG (AIG.N) for 460 million pounds ($563 million), in the largest acquisition to date by the British insurer's CEO Amanda Blanc. Aviva said it would buy the unit - known as AIG Life UK - from Corebridge Financial, Inc (CRBG.N), a New York-listed company majority-owned by AIG. Corebridge was formed in 2021 when AIG spun off its life and retirement business and sold a portion of the company to Blackstone for $2.2 billion. AIG took Corebridge public in September last year, in a share offering that raised $1.7 billion.
Persons: Simon Dawson, Amanda Blanc, Blanc, Peter Zaffino, Corebridge, Iain Withers, Louise Heavens Organizations: Aviva, REUTERS, AIG, British, AIG Life, Corebridge, Inc, RBC, Blackstone, Thomson Locations: London, Britain, New York, Singapore, United States
☆ Insurer AIG exceeds profit estimates on strong underwriting gains
  + stars: | 2023-05-04 | by ( ) www.reuters.com   time to read: +2 min
May 4 (Reuters) - American International Group Inc (AIG.N) beat market estimates for first-quarter profit on Thursday, as record underwriting gains cushioned the blow from lower alternative investment returns. AIG, one of the world's biggest commercial insurers, said net premiums written in its general insurance for the quarter ended March grew 5% to $6.97 billion. Total consolidated net investment income rose 9% to $3.5 billion, partially offset by lower alternative investment income, AIG said. The New York-based company's general insurance underwriting income rose 13% to $502 million, its strongest first-quarter underwriting results, the insurer said. The general insurance accident year combined ratio was 88.7%, compared with 89.5%, a year earlier.
☆ Insurer AIG profit shrinks as storm-related costs, weak investment returns hit
  + stars: | 2023-02-15 | by ( ) www.reuters.com   time to read: +2 min
Last month, property and casualty insurer Travelers Companies Inc (TRV.N) also reported a slump in quarterly profit, due to losses arising from the winter storm. AIG's underwriting income climbed 27% to $635 million from $499 million a year earlier, while net premiums written in its general insurance business fell 6%. The general insurance accident year combined ratio improved to 88.4% from 89.8% a year earlier. The metric excludes catastrophe losses, and a ratio below 100 shows the insurer earns more from premiums than it pays out in claims. Reporting by Manya Saini in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.
☆ AIG's Zaffino gets 5-year extension as CEO
  + stars: | 2022-11-10 | by ( ) www.reuters.com   time to read: +1 min
Nov 10 (Reuters) - Insurer American International Group Inc's (AIG.N) Chief Executive Officer Peter Zaffino's employment term has been extended for five years through Nov. 10, 2027, the company said late on Thursday in a filing. The company's board approved a one-time grant in the form of restricted stock units (RSUs) having a grant date value of $50 million to Zaffino, according to the filing. He will also receive an annual base salary of $1.5 million and an annual cash bonus of $4.5 million based on the board's assessment of his performance. Zaffino previously served as the chief executive officer of insurance broker Marsh & McLennan Companies Inc (MMC.N). Reporting by Mehnaz Yasmin in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.
☆ Insurer AIG profit slumps on hurricane costs, lower investment returns
  + stars: | 2022-11-01 | by ( ) www.reuters.com   time to read: +2 min
Nov 1 (Reuters) - Insurer American International Group Inc (AIG.N) on Tuesday reported a more than 39% decline in quarterly profit as investment income fell by more than $1 billion and losses from Hurricane Ian pushed up catastrophe bills. read moreAIG - one of the world's biggest commercial insurers - reported $600 million of catastrophe losses in the quarter, out of which about $450 million was attributable to Hurricane Ian, the insurer said. Total consolidated net investment income fell 28% to $2.7 billion, hurt mainly by lower alternative investment income. The metric excludes catastrophe losses, and a ratio below 100 signifies that the insurer earns more from premiums than it pays out in claims. read moreReporting by Noor Zainab Hussain in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.
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