- Quarterly dividend is boosted by 25% to $0.125 per share. The buyback is raised by $1B, bringing the total authorization to about $1.4B. 8.3M shares repurchased during Q for total price of about $405M. About $600M bought back for all 2013.
- Book value per share (excl. AOCI) of $64.28 is up 11% from a year ago.
- Continuing to cut costs, AIG takes a pre-tax severance charge of $265M in Q4 amid initiatives to centralize work streams into lower cost locations and creating a more streamlined organization.
- P&C operating income of 1.09B compares to loss of $944M in the Sandy-affected quarter a year ago. Combined ratio improves to 103.8 from 125.1. Adjusted combined ratio deteriorated to 102 from 100.8.
- Commercial insurance net premiums written of $4.8B is up 10% from a year ago, with the combined ratio improving to 107.7 from 130.3. Adjusted combined ratio deteriorates to 97.1 from 95.8.
- Consumer Insurance net premiums written of $3.2B down 6% from a year ago. Adjusted combined ratio worsens to 103.6 from 101.3.
- AIG Life and Retirement net investment income of $2.9B gains 6% from a year ago. Base investment yield of 5.29% slips 4 basis points.
- Mortgage Guaranty pre-tax operating income of $48M vs. a loss of $45M a year ago thanks to declining delinquencies and increasing cure rates on delinquent inventory.
- CC tomorrow at 8 ET
- Press release, Q4 results
- Shares +2% AH
Check out Seeking Alpha’s new Earnings Center »
From other sites
at Benzinga.com (Feb 28, 2015)
at CNBC.com (Feb 27, 2015)
at Investor's Business Daily (Feb 24, 2015)
at CNBC.com (Jan 29, 2015)
at MarketWatch.com (Jan 14, 2015)
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