AIG’s (NYSE:AIG) International Net Premiums Earned from its General Insurance business declined from around $14.3 billion in 2019 to around $13.4 billion in 2020. Trefis expects the metric to recover to around $14 billion in 2021 and to about $14.1 billion in 2022.
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While the decline in 2020 was due to the Covid-19 pandemic, we expect premiums earned to recover from 2021 as Covid-19 vaccination rates improve and the global economy continues to open up. We expect longer-term growth to be driven by the company’s expanding operations in high-growth economies in Asia.
We value AIG at about $57 per share, about 5% ahead of the current market price.
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|S&P 500 Return||1%||26%||111%|
|Trefis MS Portfolio Return||0%||44%||288%|
 Month-to-date and year-to-date as of 12/12/2021
 Cumulative total returns since 2017