May 3, 2018 / 1:03 PM / 22 days ago

BRIEF-AIG CEO Says expects underwriting profit by 2018 year-end

May 3 (Reuters) - American International Group Inc:

* CEO SAYS EXPECTS UNDERWRITING PROFIT BY END OF 2018-CONF CALL

* CEO SAYS EXPECTS TO REACH TOP QUARTILE BOOK VALUE GROWN AND RETURN ON EQUITY PERFORMANCE OVER TIME - CONF CALL

* CEO SAYS COMPANY WILL REACH COMBINED RATIO OF BELOW 100 BY END OF 2018, ENTERING 2019 - CONF CALL

* AIG EXEC SAYS COMPANY IS REBALANCING CASUALTY BOOK AND GETTING OUT OF LEAD EXCESS CASUALTY - CONF CALL

* CEO SAYS BUYING BACK STOCK IS A TOOL; “I USED IT BEFORE, I MAY USE IT AGAIN” - CONF CALL

* CEO SAYS LOSS RATIO FOR NORTH AMERICA COMMERCIAL WILL “PROBABLY WILL BE ABOVE 100” - CONF CALL

* AIG OFFICIAL SAYS DOES NOT EXPECT “AN IMMEDIATE CHANGE” FROM U.S. APPEALS COURT DECISION INVALIDATING U.S. DEPARTMENT OF LABOR FIDUCIARY RULE

* CEO SAYS “WE’RE TAKING LOTS OF TIME AND EFFORT TO FIX EXCESS CASUALTY BOOK” - CONF CALL

* CEO SAYS ACTIONS TAKEN IN EXCESS CASUALTY “BECOME EFFECTIVE NOW,” BUT COMPANY TAKING TIME TO VERIFY - CONF CALL

* CEO SAYS PREMIUM LEVELS “WILL STABILIZE THIS YEAR OVER LAST” BY EVALUATING COMPANY’S PORTFOLIO, NOT INCREASING PRODUCTION - CONF CALL Source text for Eikon: Further company coverage: (Reporting by Suzanne Barlyn)

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