Finance Feeds logo

Quarterly profit of AIG remained below expectations

Noam Stiekema

Quarterly profit of AIG remained below expectations, after the cost of benefits to employees weighed on revenues. The insurance company announced quarterly adjusted earnings per share to 97 cents, down from 1.13 USD for the same period of the previous year. “Our results for the fourth quarter showed progress in terms of cost control, current […]

AIG

AIGQuarterly profit of AIG remained below expectations, after the cost of benefits to employees weighed on revenues. The insurance company announced quarterly adjusted earnings per share to 97 cents, down from 1.13 USD for the same period of the previous year.

“Our results for the fourth quarter showed progress in terms of cost control, current investments in businesses and our commitment to balanced management”, said CEO Peter Hancock.

AIG also announced that it will buy back own shares at worth of 2.5 billion USD. The analysts had expected AIG to a profit of 1.05 USD per share and revenue of 8.64 billion USD. The company reported an operating profit of 1.37 billion USD from 1.67 billion USD an year earlier. The profit after tax from the trading segment increased to 1.22 billion USD from 973 million USD an year ago. The same indicator in the consumer segment, however, declined to a profit of 923 million USD from 1.16 billion USD an year earlier.

Last month, the insurer said it would buy Laya Healthcare, which the second largest provider of health insurance in Ireland. The company also announced last month that it has completed the acquisition of British insurer Ageas Protect. The shared of AIG rose more than 6% last year compared to surge by about 14% for the S&P 500. During the trade on Wall Street on Thursday, a security company is traded for 52.45 USD.

Subscribe

Read this next

Executive Moves

Tradition hires Michel Everaert to integrate data science and AI

“I am excited about the potential this offers, and look forward to building relationships and working with teams across the global business.”

Retail FX

IBKR extends US Treasury bond trading to 22 hours per day

US Treasury bonds are highly sought after by investors seeking stability and security in their portfolios as these instruments are often considered one of the safest investment options. 

Market News

Navigating Yen Depreciation and Euro Resilience in Global Markets

Amidst the persistent depreciation of the Japanese yen against the US dollar, pressure mounts on Japanese policymakers to translate their verbal assurances into tangible actions.

acy securities logo
Digital Assets

El Salvador refutes rumors of Bitcoin wallet hack

Chivo Wallet, El Salvador’s official cryptocurrency wallet, has dismissed reports of a hack involving its software source code and the data of over 5 million users associated with its KYC (Know Your Customer) procedures.

blockdag

Best Crypto to Buy: BlockDAG Presale Hits $20.1M Following Moon-Shot Keynote Teaser as Dogecoin & Shiba Inu Prices Plummet

This landmark achievement sets it apart in the cryptocurrency landscape, where traditional favorites like Dogecoin and Shiba Inu are witnessing a price decline.

BlockDAG to the moon
Digital Assets

MetaMask developer sues SEC over regulatory overreach

Ethereum ecosystem developer Consensys Software has filed a lawsuit against the U.S. Securities and Exchange Commission (SEC), challenging the agency’s regulatory actions concerning Ethereum and its related services.

Institutional FX

Tradeweb pulls in $408.7 million in Q1 revenue amid record trading volumes

Tradeweb Markets Inc. (NASDAQ: TW) has just announced its financial results for the first quarter of 2024, which showed a robust performance for the three months through March.

Institutional FX

BGC Group valued at $667 million following investment by major banks

BGC Group announced that its exchange platform, FMX Futures, is now valued at $667 million after receiving investments from a notable consortium of financial institutions.

blockdag

Transforming a Bankrupt Investor into a Cryptocurrency Giant; Can BlockDAG Replicate Ethereum’s Meteoric Rise With 30,000x Predictions?

The realm of cryptocurrency investing presents a thrilling blend of challenges and opportunities. The legendary gains by early Ethereum investors serve as a powerful lure for those seeking the next major breakthrough.

Top ICO you cant miss BlockDAG
<
✖