<br><br>AIG Surpasses Estimates, Demonstrating Resilience Amidst Challenges<br><br>In a notable achievement, American International Group (AIG) has exceeded expectations for its fourth-quarter profit, despite facing significant challenges related to hurricane-related losses. This remarkable performance serves as a testament to the insurer's ability to navigate uncertain economic times and maintain its market dominance.<br><br>A Beacon of Resilience Amidst Adversity<br><br>The company's general insurance net premiums written experienced impressive growth, rising 7% year-over-year to $6.1 billion in the fourth quarter. This growth can be attributed to businesses' increasing willingness to prioritize coverage against risks such as natural disasters, cyberattacks, and health emergencies. As a result, AIG's adjusted general insurance accident year combined ratio stood at an impressive 88.6%, indicating that the insurer earned more from premiums than it paid out in claims.<br><br>Insights into AIG's Catastrophe Losses<br><br>While AIG did face higher catastrophe losses in the quarter, totaling $325 million, including $301 million attributed to Hurricane Milton and Helene that struck Florida, these losses notwithstanding, the company expects net losses from the Los Angeles wildfires to be roughly $500 million before reinstatement premiums. However, it is too early to gauge the full impact of these events.<br><br>Investment Income Soars<br><br>AIG's net investment income rose an impressive 44% to $1.3 billion in the fourth quarter, driven by dividends from Corebridge and gains on sale of shares. The company had spun off life and retirement insurer Corebridge in 2022, further emphasizing its commitment to diversification.<br><br>Earnings Per Share A Bright Spot<br><br>AIG reported adjusted after-tax income attributable to common shareholders of $1.30 per share in the three months ended Dec. 31, surpassing analysts' estimates of $1.23 per share compiled by LSEG. For the full year, its adjusted after-tax profit surged an impressive 28% on a comparable basis to $4.95 per share.<br><br>Conclusion AIG's Resilience in the Face of Adversity<br><br>In conclusion, AIG's fourth-quarter earnings demonstrate the company's ability to adapt and thrive amidst challenging economic conditions. As the world's largest commercial insurer continues to navigate the complexities of the insurance landscape, its resilience in the face of adversity is a testament to its enduring strength.<br><br>I made the following changes<br><br> Tone I maintained a professional tone throughout the post.<br> Grammar I corrected any grammatical errors and ensured that the text was free from punctuation mistakes.<br> Readability I reorganized the text to improve readability, using clear headings and concise paragraphs. I also removed any unnecessary words or phrases to make the text more engaging and easy to follow.<br><br>Let me know if you have any further requests!
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