NEW YORK--(BUSINESS WIRE)--Dec. 16, 2015--
American International Group, Inc. (NYSE:AIG) today announced that its
Board of Directors has authorized the repurchase of additional shares of
AIG Common Stock with an aggregate purchase price of up to $3.0 billion.
As of December 15, 2015, AIG has repurchased approximately $9.7 billion
of shares of AIG Common Stock year to date, pursuant to prior
authorizations from the Board of Directors. AIG’s aggregate remaining
share repurchase authorization, inclusive of today’s announced $3.0
billion authorization, is approximately $4.3 billion. Repurchases may be
made from time to time in the open market, private purchases, through
forward, derivative, accelerated repurchase or automatic repurchase
transactions, or otherwise.
“This additional authorization will enable AIG to continue returning
excess capital to shareholders, while finalizing authorization plans for
2016,” said Douglas M. Steenland, Chairman of the Board of Directors of
AIG. “The timely return of excess capital to shareholders is one of
AIG’s strategic priorities.”
Certain statements in this press release constitute forward-looking
statements. These statements are not historical facts but instead
represent only AIG’s belief regarding future events, many of which, by
their nature, are inherently uncertain and outside AIG’s control. It is
possible that actual results will differ, possibly materially, from the
anticipated results indicated in these statements. Factors that could
cause actual results to differ, possibly materially, from those in the
forward-looking statements are discussed throughout AIG’s periodic
filings with the SEC pursuant to the Securities Exchange Act of 1934.
American International Group, Inc. (AIG) is a leading global insurance
organization serving customers in more than 100 countries and
jurisdictions. AIG companies serve commercial, institutional, and
individual customers through one of the most extensive worldwide
property-casualty networks of any insurer. In addition, AIG companies
are leading providers of life insurance and retirement services in the
United States. AIG common stock is listed on the New York Stock Exchange
and the Tokyo Stock Exchange.
Additional information about AIG can be found at www.aig.com
| YouTube: www.youtube.com/aig
| Twitter: @AIGinsurance | LinkedIn: http://www.linkedin.com/company/aig
AIG is the marketing name for the worldwide property-casualty, life and
retirement, and general insurance operations of American International
Group, Inc. For additional information, please visit our website at www.aig.com.
All products and services are written or provided by subsidiaries or
affiliates of American International Group, Inc. Products or services
may not be available in all countries, and coverage is subject to actual
policy language. Non-insurance products and services may be provided by
independent third parties. Certain property-casualty coverages may be
provided by a surplus lines insurer. Surplus lines insurers do not
generally participate in state guaranty funds, and insureds are
therefore not protected by such funds.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151216006303/en/
Source: American International Group, Inc.
American International Group, Inc.
Hendricks Sullivan, 212-770-3141