Categories AlphaGraphs, Earnings, Finance

A snapshot of American International Group’s Q4 2022 earnings

American International Group (NYSE: AIG) has reported a sharp decline in revenues and earnings for the fourth quarter of 2022.

American International Group Q4 2022 earnings infographic

Net income attributable to shareholders dropped to $264 million or $0.35 per share in the fourth quarter from $3.74 billion or $4.38 per share in the same period of 2021.

The weak bottom-line performance reflects an 18% fall in revenues to $11.59 billion. At $3.26 billion, net investment income was down 9% year-over-year in the fourth quarter.

“We reached significant milestones on AIG 200 that modernized our technology infrastructure and operational capabilities while executing on our target run-rate savings of $1 billion six months ahead of schedule. We revamped AIG’s investment management strategy through strategic partnerships with Blackstone and BlackRock and have transferred approximately $50 billion and $150 billion of assets, respectively, to these partners,” said AIG’s CEO Peter Zaffino.

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

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