Earnings Review and Free Research Report: American International Group’s After Tax Diluted EPS Surged 33%
Research Desk Line-up: Sun Life Financial Post Earnings Coverage
LONDON, UK / ACCESSWIRE / August 18, 2017 /Pro-Trader Daily has just published a free post-earnings coverage on American International Group, Inc. (NYSE: AIG), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=AIG, following the Company's posting of its financial results on August 01, 2017, for the second quarter of the fiscal year 2017. The Company's net income increased 40.8% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
Get more of our free earnings reports coverage from other constituents of the Property & Casualty Insurance industry. Pro-TD has currently selected Sun Life Financial Inc. (NYSE: SLF) for due-diligence and potential coverage as the Company announced on August 09, 2017, its financial results for Q2 2017 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Sun Life Financial when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on AIG; also brushing on SLF. With the links below you can directly download the report of your stock of interest free of charge at:
For the three months ended June 30, 2017, American International Group's pre-tax operating income decreased 41.6% to $1.67 billion from $2.86 billion in Q2 FY16. For the reported quarter, the Company's adjusted pre-tax operating income increased 10.9% to $2.13 billion from $1.92 billion in Q2 FY16.
During Q2 FY17, the Company's net income decreased 40.8% to $1.13 billion on a y-o-y basis from $1.91 billion in Q2 FY16. For the reported quarter, the Company's net income diluted earnings per share (EPS) decreased 29.2% to $1.19 from $1.68 in Q2 FY16. During Q2 FY17, American International Group's after tax operating income increased 10.7% to $1.45 billion on a y-o-y basis from $1.31 billion in Q2 FY16. For the reported quarter, the Company's after tax diluted EPS increased 33% to $1.53 from $1.15 in Q2 FY16. The after tax diluted EPS surpassed analysts' expectations by 27.5%.
Commercial Insurance - During Q2 FY17, American International Group's Commercial Insurance segment's net premiums written decreased 15% on a y-o-y basis, or 9% on a constant currency basis, to $3.83 billion from $4.50 billion in Q2 FY16. For the reported quarter, the segment's pre-tax operating income decreased 23.9% to $716 million from $941 million in Q2 FY16. The decrease was mainly due to higher property losses and the impact of the increase in loss estimates in the second half of FY16. For the reported quarter, the segment's expense ratio increased 360 basis points to 73.8% from 70.2% in the same quarter of last year. For the reported quarter, the segment's expense ratio increased 80 basis points to 28.9% from 28.1% in Q2 FY16.
During Q2 FY17, the segment's Liability and Financial Lines division's net premiums written decreased 10% to $2.09 billion from $2.32 billion in Q2 FY16. For the reported quarter, the division's pre-tax operating income decreased 28% to $586 million from $815 million in Q2 FY16.
For the reported quarter, the segment's Property and Special Risks division's net premiums written decreased 20% to $1.74 billion from $2.18 billion in Q2 FY16. For the reported quarter, the division's pre-tax operating income increased 3% to $130 million from $126 million in Q2 FY16.
Consumer Insurance - During Q2 FY17, American International Group's Consumer Insurance segment's operating revenue decreased 2% to $5.98 billion from $6.13 billion in Q2 FY16. For the reported quarter, the segment's pre-tax operating income increased 33% to $1.26 billion from $948 million in Q2 FY16.
For the reported quarter, the segment's Individual Retirement division's operating revenue decreased 8% to $1.38 billion from $1.51 billion in Q2 FY16. During Q2 FY17, the division's pre-tax operating income was $558 million compared to $505 million in Q2 FY16.
For the reported quarter, the segment's Group Retirement division's operating revenue decreased 2% to $696 million from $707 million in Q2 FY16. During Q2 FY17, the division's pre-tax operating income was $266 million compared to $265 million in Q2 FY16.
For the reported quarter, the segment's Life Insurance division's operating revenue increased 4% to $1.03 billion from $988 million in Q2 FY16. During Q2 FY17, the division's pre-tax operating income was $106 million compared to $26 million in Q2 FY16.
As on June 30, 2017, American International Group's adjusted return on equity (ROE) was 10.5% compared to 7.9 % in Q2 FY16. The improvement in ROE was mainly attributable to capital management, operating efficiencies, and Personal Insurance profitability.
During Q2 FY17, the Company's normalized return on equity was 9.1% compared to 8.3% in Q2 FY16.
During Q2 FY17, the Company repurchased $2.4 billion of shares.
American Intl. Group's share price finished yesterday's trading session at $61.67, slipping 2.06%. A total volume of 5.11 million shares have exchanged hands. The Company's stock price advanced 0.46% in the last three months and 4.47% in the previous twelve months. Shares of the Company have a dividend yield of 2.08% and currently have a market cap of $56.02 billion.
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