Aig posts qtrly adjusted after-tax earnings per share $0.11

Aig - qtrly earnings per share $1.98; qtrly adjusted after-tax earnings per share $0.11.aig - general insurance had $419 million of pre-tax catastrophe losses, net of reinsurance, in q1.aig - q1 general insurance pre-tax catastrophe losses, net of reinsurance, included $272 million of estimated covid-19 losses.aig - at march-end decided to place unit blackboard into run-off & recognized $210 million pre-tax loss, primarily consisting of asset impairment.aig - qtrly total general insurance net premiums written $5.92 billion, down 2%.aig - as of march 31, book value per common share was $69.30 down 8% compared to prior quarter-end.aig - qtrly total general insurance underwriting loss $87 million versus income of $179 million.aig ceo says "believe covid-19 will be the single largest cat loss the industry has ever seen".aig - asset impairment charge associated with blackboard u.s. holdings did not impact q1 adjusted pre-tax income.aig - withdrawing previously issued guidance, including that relating to adjusted return on common equity.aig - do expect to see continued improvement in general insurance, particularly in adjusted combined ratio.aig - in life and retirement, do not believe that impact of covid-19 will result in material reduction of long-term return profile.aig - as of march 31, aig parent liquidity stood at about $7.5 billion.aig - currently has outstanding $1.3 billion under its $4.5 billion committed revolving syndicated credit facility.
AIG Ratings Summary
AIG Quant Ranking