NEW YORK--(BUSINESS WIRE)--American International Group, Inc. (NYSE:AIG) today announced that its Board of Directors has authorized the repurchase of additional shares of AIG Common Stock with an aggregate purchase price of up to $2.00 billion. Since the end of the 2014 first quarter, AIG has repurchased approximately $418 million of shares of AIG Common Stock. AIG’s aggregate remaining share repurchase authorization, inclusive of today’s announced $2.00 billion authorization, is approximately $2.12 billion. Repurchases may be made from time to time in the open market, private purchases, through forward, derivative, accelerated repurchase or automatic repurchase transactions, or otherwise.
“We are very pleased that the consummation of our sale of International Lease Finance Corporation and our strong capital position have allowed us to authorize this share repurchase, which enables us to return a portion of our sale proceeds directly to our shareholders,” said Robert S. Miller, Chairman of the Board of AIG.
Certain statements in this press release constitute forward-looking statements. These statements are not historical facts but instead represent only AIG’s belief regarding future events, many of which, by their nature, are inherently uncertain and outside AIG’s control. It is possible that actual results will differ, possibly materially, from the anticipated results indicated in these statements. Factors that could cause actual results to differ, possibly materially, from those in the forward-looking statements are discussed throughout AIG’s periodic filings with the SEC pursuant to the Securities Exchange Act of 1934.
American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.
AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries, and coverage is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.