AIG announces $500 million accelerated share repurchase

American International Group (AIG) has entered into an accelerated share repurchase (ASR) agreement with Citibank to repurchase $500 million in AIG common stock. The agreement is part of AIG’s $2 billion share repurchase authorization announced in February 2019. “We remain committed to delivering long-term, sustainable value to all of our stakeholders,” said Brian Duperreault, CEO of AIG. “While AIG 200, investing in our business and reducing leverage are key components of our capital-management strategy, we continue to be mindful of the importance of deploying capital through a balanced approach that also includes returning capital to investors. As a result, in addition to our recently announced redemption of $350 million of 4.35% Callable Notes Due 2045, we are proceeding with this $500 million share buyback.”