American International Group (AIG, Financial) is one company that we haven’t discussed in a while, although it’s been in the portfolio since 2011. This year, AIG successfully IPO’d a portion of its life business, an important step on the way to becoming a pure property & casualty company. The company’s general insurance operations demonstrated another year of improved underwriting and profitability.
From Steven Romick (Trades, Portfolio)'s FPA Crescent Fund fourth-quarter 2022 commentary.
