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American International Group, Inc. (NYSE:AIG) stated Friday that John Neal, who had been appointed to become president effective December 1, 2025, will not be joining the company. According to a press release statement, the decision was reached by mutual agreement due to personal circumstances. The $42.28 billion market cap insurance giant has been profitable over the last twelve months, with a P/E ratio of 14.04 and a dividend yield of 2.3%.
AIG also said that Chairman and CEO Peter Zaffino will continue to work with the board of directors on the company’s future organizational structure. No further details regarding a replacement or changes to the executive team were disclosed in the filing.
This information is based on a statement included in the company’s Form 8-K filed with the Securities and Exchange Commission.
In other recent news, American International Group (AIG) has priced a secondary offering of Corebridge Financial’s common stock at $31.10 per share. This offering consists of 32.6 million existing shares, resulting in approximately $1.0 billion in gross proceeds, all of which will go to AIG. The transaction represents a 6.3% ownership transfer of Corebridge’s total outstanding shares, which number around 520 million. J.P. Morgan Securities LLC is acting as the sole underwriter for this offering.
Additionally, AIG has entered into agreements to acquire the renewal rights for a significant portion of Everest Group’s retail insurance portfolios worldwide, involving approximately $2 billion in premiums. This strategic acquisition will allow Everest to focus more on its core global reinsurance and specialty insurance operations. Everest will retain all existing liabilities and continue to administer claims for its policies. These developments highlight AIG’s strategic maneuvers in the insurance sector.
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