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PTVCA

Protective Insurance

$16.00

(0.00%)

, AIG

AIG

$52.49

0.06 (0.11%)

16:45
05/21/19
05/21
16:45
05/21/19
16:45

Protective Insurance appoints Jeremy Johnson as CEO

Protective Insurance (PTVCA)announced that its Board of Directors has appointed Jeremy D. Johnson as CEO, effective tomorrow; Johnson will also serve as a member of the Company's Board of Directors. Johnson most recently served as President, US Commercial for American International Group (AIG), from February 2016 to December 2017, with responsibility for underwriting, operations, claims and distribution in the US, Canada, Brazil, Mexico and Puerto Rico. He served as CEO and President of Lexington Insurance Company, AIG's excess and surplus lines unit, from February 2013 to December 2017. Johnson served in various executive leadership roles at AIG between 2000 and 2013, including Specialty Product Line Executive, U.S. & Canada; President of Cat Excess Liability; U.S. Executive for Energy Excess Casualty; and Regional Vice President for the Mid-Atlantic territory. Prior to joining AIG, Johnson was a broker for Sedgwick, and Marsh.

PTVCA

Protective Insurance

$16.00

(0.00%)

AIG

AIG

$52.49

0.06 (0.11%)

  • 21

    May

PTVCA Protective Insurance
$16.00

(0.00%)

AIG AIG
$52.49

0.06 (0.11%)

02/21/19
UBSW
02/21/19
NO CHANGE
Target $52
UBSW
Buy
AIG at inflection despite disappointing Q4 results, says UBS
UBS analyst Brian Meredith said despite AIG's disappointing Q4 results, management reiterated their expectation that the General Insurance segment would achieve a profit in Q1. The analyst also said the benefit coming from their reinsurance strategy in 2019 is underappreciated by the market. He believes management's guidance of margin expansion from a rate and mix shift will be challenging to achieve, so he modeled in half of the guidance only. Meredith maintained his Buy rating and $52 price target on AIG shares.
05/07/19
JPMS
05/07/19
NO CHANGE
Target $52
JPMS
Neutral
AIG results not as strong as first look suggests, says JPMorgan
JPMorgan analyst Jimmy Bhullar says that while AIG's Q1 results exceeded expectations, they are not as strong as they appear at first glance. Results were lifted by a few unusual items, primarily high investment income, Bhullar tells investors in a post-earnings research note. Further, as in recent quarters, net earnings was considerably below operating earnings, primarily due to high realized investment losses, adds the analyst. He affirms a Neutral rating on AIG with a $52 price target citing a "lackluster outlook" for business fundamentals and concerns about downside risk to consensus earnings forecasts.
05/08/19
WELS
05/08/19
NO CHANGE
Target $57
WELS
Outperform
AIG price target raised to $57 from $50 at Wells Fargo
Wells Fargo analyst Elyse Greenspan raised her price target for AIG to $57 from $50 following quarterly results. The analyst reiterates an Outperform rating on the shares.
05/16/19
COMP
05/16/19
NO CHANGE
Target $66
COMP
Buy
Figures point to AIG turnaround, says Compass Point
Compass Point analyst Bijan Moazami has evaluated five of the most problematic lines of business at AIG, namely other liabilities claims-made, other liabilities occurrence, workers' compensation, commercial multi-peril and commercial auto liability. These lines represent roughly half of AIG's U.S. domestic business, and the bulk of its reserves, he notes, adding that the $6.6B of premiums AIG earned from these lines last year, is only a fraction of the $14B it wrote in 2009. Meanwhile, the company took $12.9B in reserve charges, over the past decade, to deal with deficiencies, Moazami adds. Overall, the analyst points out that his data indicates that re-underwriting in the past couple years has turned-around loss trends, with frequency and severity of losses down sharply, and AIG now appears "too conservative" on its newer accident-years loss assumptions. He rates AIG as his top pick in the P/C segment, and reiterates a Buy rating and $66 price target on the shares.

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HEXO

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ANGI

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AGTC

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SLAB

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LNC

Lincoln National

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  • 01

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TRI

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FDS

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