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.

Read this next

Retail FX

Banxso announces 8.7% interest rate on deposits in South Africa

“With Banxso, they can enjoy the benefits of both worlds – earning competitive interest and having the freedom to trade, all within the same platform.”

Industry News

FINRA to publish transaction details in U.S. Treasury securities

“Consistent with our longstanding practice, FINRA is introducing greater transparency in a calibrated and careful manner, benefiting liquidity and resilience in this critical market while also mitigating potential information leakage concerns.”

Institutional FX

OpenYield launches “cheap and easy” fixed income trading for brokers

“We’re on a mission to make bonds cheap and easy to trade, and are excited about the opportunity to build generational capital markets infrastructure.”

Digital Assets

Sumsub and Mercuryo publish a guide for VASPs: “Mastering Travel Rule Compliance”

“At Sumsub, we’ve concentrated our efforts on filling the gap in understanding the complexity of Travel Rule regulation and helping organizations find the best solution to stay safe and compliant while minimizing costs and avoiding potential risks of non-compliance. This guide we created with Mercuryo, our trusted partner, is the ultimate navigation tool all VASPs can consult.”

Digital Assets

Bitget Wallet Leads with Record Swap Volume & New Crypto Innovations

This week, Bitget Wallet achieved a milestone by surpassing Metamask with a record 388,757 Swap order transactions, securing the global lead. The significant 7-day trading volume, almost 68,000 more than its rival, underscores its liquidity and user trust. This robust activity signals Bitget Wallet’s prominent role and reliability in the dynamic crypto market.

Digital Assets

Embarking on a Digital Currency Journey

Imagine you’ve stumbled upon a treasure map, leading you to untold riches hidden in the vastness of the internet. Instead of gold coins and jewel-encrusted goblets, this treasure comes in the form of digital currencies, the modern-day loot coveted by many.

Reviews

Traders Union Experts Share The Trading Analyst Review For 2024

Navigating options trading in rapidly shifting markets poses a considerable challenge. This is where options trading alert services become invaluable. They aid traders in keeping abreast of evolving opportunities and market trends. In this assessment, Traders Union experts scrutinize The Trading Analyst alert service to ascertain its efficacy. 

Digital Assets

BlockDAG’s Presale Achieves $9.9M: Aiming For A 5000-Fold ROI As Cardano’s Price Rises And Fantom Launches Sonic

Explore Cardano’s surge, Sonic’s efficiency, and why BlockDAG’s growth makes it the top crypto choice. A deep dive into the future of blockchain investments.

Digital Assets

US, UK probe $20 billion Tether transfers tied to Russian exchange.

U.S. and UK authorities are investigating the movement of $20 billion in the USD-pegged stablecoin tether (USDT) through Moscow-based exchange Garantex.

<