American International Group Inc

AIG: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$69.00	Jfj	Xhfmsfls

AIG Maintains P&C Underwriting Momentum in Second Quarter

Brett Horn

Aug 9, 2022

American International Group showed ongoing improvement in terms of property and casualty underwriting results, but capital market conditions were a drag on investment income and life insurance results. The net effect was an annualized adjusted return on equity of 7% in the quarter. While the ROE wasn’t impressive, we see fixing P&C underwriting as the key long-term issue for AIG and therefore view the results this quarter as a positive. We will maintain our $65 fair value estimate and no-moat rating.

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