“AIG (AIG) had an exceptional third quarter. We successfully executed on multiple complex strategic transactions to further position AIG for the future while also delivering outstanding financial results,” said Peter Zaffino, AIG Chairman & Chief Executive Officer. “Last week, we announced investments in Convex Group, a global specialty insurer, and Onex Corporation, a global asset manager. We also entered into agreements to acquire the renewal rights of Everest Group’s global retail commercial insurance portfolios. These unique opportunities mark an important next step in AIG’s strategy and were made available exclusively to us because of our strong brand, outstanding performance and deep industry relationships. We expect these transactions to be earnings, EPS and ROE accretive.”
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Read More on AIG:
- AIG Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- AIG to acquire 35% of Convex Group for $2.1B, 9.9% of Onex Corporation for $646M
- Onex Partners announces sale of Convex to Onex Corporation, AIG
- Onex, AIG enter agreement to acquire Convex for $7B
- Everest to sell retail commercial insurance renewal rights to AIG