NEW YORK - American International Group, Inc. (NYSE: AIG), a prominent player in the insurance industry with a market capitalization of $46.31 billion, announced today that Ray Hall has been appointed as the new Head of Western World, an AIG company specializing in wholesale insurance solutions. Hall, who has been with AIG since 2020, will assume his role immediately and report to Lou Levinson, President and CEO of Lexington Insurance. According to InvestingPro analysis, AIG has demonstrated strong financial health, maintaining dividend payments for 13 consecutive years.
Hall’s responsibilities will include leading Western World’s strategies in the contract bind market, working exclusively with a network of wholesale brokers. His tenure at AIG began as Western World’s National Director, and he will remain based in Scottsdale, Arizona.
Western World forms part of AIG’s Excess & Surplus lines platform, which also includes Lexington Insurance. This sector of AIG provides non-admitted insurance solutions to wholesale brokers and their clients in property, casualty, and garage segments.
Lou Levinson expressed confidence in Hall’s leadership, attributing the decision to AIG’s culture of nurturing internal talent. Don Bailey, EVP and CEO of AIG North America Commercial Insurance, emphasized the importance of Western World’s capabilities to AIG’s growth strategy in North America, particularly in the Excess & Surplus lines market.
Hall, with 27 years of experience in the industry, has been instrumental in the transformation of Western World’s contract bind business. His contributions include product development, enhancing underwriting discipline, attracting top talent, and strengthening broker relationships.
This announcement comes as AIG continues to reinforce its position as a leading global insurance organization, providing solutions to help businesses and individuals manage risks in over 200 countries and jurisdictions. With its upcoming earnings report scheduled for May 1, 2025, and current analysis from InvestingPro suggesting the stock is undervalued, investors may want to explore the comprehensive Pro Research Report available for deeper insights into AIG’s market position and growth potential.
The information is based on a press release statement from American International Group, Inc.
In other recent news, American International Group (AIG) announced a new $7.5 billion share repurchase program, with the plan set to begin on April 1, 2025. This repurchase includes approximately $3.4 billion remaining from a previous authorization. During an Investor Day event, AIG set ambitious financial targets, including an Operating Earnings Per Share (EPS) Compound Annual Growth Rate (CAGR) of over 20% from 2025 to 2027 and a core operating Return on Equity (ROE) target of 10% to 13%. UBS analyst Brian Meredith raised the price target for AIG shares to $92, maintaining a Buy rating, citing growth and return on equity improvements as key factors. Meanwhile, Keefe, Bruyette & Woods increased their price target to $98, keeping an Outperform rating, and highlighted AIG’s robust reserves and advanced AI capabilities. JPMorgan downgraded AIG from Overweight to Neutral but raised the price target to $91, acknowledging strong EPS growth and capital flexibility. TD Cowen maintained a Hold rating with an $86 price target, noting AIG’s transformation and strategic plans. These developments reflect AIG’s ongoing efforts to enhance shareholder value and its strategic direction for future growth.
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