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Stock impact report

AIG to Acquire Renewal Rights for a Majority of Everest Group’s Retail Insurance Portfolios Worldwide

American International Group, Inc. New (AIG) 
Last american international group, inc. new earnings: 2/13 06:45 am Check Earnings Report
US:NYSE Investor Relations: aig.com/investor-relations
Company Research Source: Business Wire
$2 billion of aggregate premium supports EPS and Return on Equity expansion NEW YORK--(BUSINESS WIRE)--American International Group, Inc. (NYSE: AIG) today announced that it has entered into definitive agreements to acquire the renewal rights for a majority of Everest Group Ltd.’s (NYSE: EG) retail insurance portfolios worldwide, representing in aggregate approximately $2 billion of premium. Exposure to all liabilities will remain with Everest, who will also continue to administer claims with respect to its policies."We expect these renewal rights transactions to drive incremental growth in our general insurance portfolio, and we will be able to write these policies within our existing balance sheet with no incremental capital required,” said Peter Zaffino, Chairman & CEO, AIG. “Jim Williamson, President and CEO of Everest Group, and the underwriting team at Everest have done a very good job repositioning Everest’s global retail insurance portfolio, and we see these portfolios as v Show less Read more
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