American International Group Inc

AIG: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$64.00	Jzh	Wlnvzbksj

AIG Earnings: Further Improvement in Commercial Lines

Brett Horn

Nov 2, 2023

AIG delivered a solid third quarter, in our view, with the adjusted annualized return on equity of 8.5% showing the company remains on the doorstep of adequate returns. We are encouraged by the continued progress in improving P&C underwriting results, as we see this as the critical factor in improving returns over time. We will maintain our $66 fair value estimate for the no-moat company and see shares as fairly valued.

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