American International Group, Inc. announced that Anthony Philip is taking over as president and CEO of American International Company Limited in Bermuda with immediate effect. Philip succeeds David Valzania, who was recently named as head of Global Risk Solutions for the US and Canada. In his new role Philip will manage all of the company's daily operations in Bermuda, including financial and general business matters. He will oversee regulatory matters and will act as the company's principal liaison with the Bermuda Monetary Authority. Philip joined the company in 2008 as senior vice president and general counsel in Bermuda, with responsibility for advising on Bermuda law, regulation and corporate governance, and managing corporate administration and compliance for the 35 AIG companies in Bermuda. He also acted as company secretary for all AIG companies in Bermuda.

2013 Annual Meeting of Shareholders

American International Group, Inc. reported earnings results for the first quarter ended March 31, 2013. The company reported net income attributable to AIG of $2.2 billion and after-tax operating income of $2.0 billion for the quarter ended March 31, 2013, compared to net income attributable to AIG of $3.2 billion and after-tax operating income of $3.0 billion for the first quarter of 2012. Diluted earnings per share attributable to AIG and after-tax operating income per share attributable to AIG were $1.49 and $1.34, respectively, for the first quarter of 2013, compared with diluted earnings per share attributable to AIG and after-tax operating income per share attributable to AIG of $1.71 and $1.62, respectively, for the first quarter of 2012. Income from continuing operations before income taxes was $2,832 million against $4,466 million a year ago. Income from continuing operations was $2,138 million against $3,385 million a year ago. Net income attributable to AIG was $2,206 million against $3,208 million a year ago. Book value per share was $67.41 as at March 31, 2013 compared to $57.68 as at march 31, 2012. Return on equity was 8.9% against 12.5% a year ago. For the rest of 2013, the company expects an operating tax rate to be roughly in the range of 30%. The company continues to expect modest net premium growth in 2013 as underwriting actions take hold and write profitable new business.