Aflac Inc. now has a market capitalization that is almost as 4 times as great as that of American International Group Inc.
A company’s market cap equals the dollar value of all outstanding shares of stock.
The recent economic turmoil has taken a toll on the value of AIG’s stock, pushing it down below $3 per share, and pummeled the company’s market cap.
Here are some U.S. life industry market caps, as of about 1 p.m. EDT:
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- Aflac, Columbus, Ga.: $27 billion.
- AIG, New York: $8.1 billion.
- Genworth Financial Inc., Richmond, Va.: $5.9 billion.