American International Group Inc. (AIG) reported its seventh consecutive quarterly earnings beat with an adjusted after tax income of $1.3bn or $1.58/share, up 57% YoY and beating analyst estimates of $1.19 as per a Bloomberg survey. Its General Insurance combined ratio improved by a solid 10.2 points to 92.4%, implying that it spent 92.4 cents on claims and expenses for every dollar received in premiums. General insurance net premiums written grew 7% YoY to $5.96bn, driven by 13% and 18% YoY growth in Global Commercial Lines. AIG Parent liquidity stood at $10.7bn as at 2021-end, up from $5.4bn at September-end. During the quarter, AIG repurchased $1bn worth of common stock and $1bn towards debt reduction.

AIG’s 3.875% 2035s are trading 0.5 points lower this week to 103.176 to yield 3.56%.

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