Shareholders' Equity

3 Months Ended

Mar. 31, 2025

Equity [Abstract]

Shareholders' Equity

Shareholders’ Equity

Other Comprehensive Income

The following tables present the changes in each component of accumulated other comprehensive income (AOCI) and the effect of reclassifications out of AOCI into the respective lines in the condensed consolidated statements of operations.

Changes in Accumulated Other Comprehensive Income (Loss) by Component

First Quarter 2025

	Net Unrealized Gains (Losses) on Investments with:				ISCR on  FG VIEs’ Liabilities with Recourse		Cumulative Translation Adjustment		Cash Flow  Hedge		Total AOCI
	No Credit Impairment		Credit Impairment
	(in millions)
Balance, December 31, 2024	$	(235)	$	(99)	$	(18)	$	(37)	$	4	$	(385)
Other comprehensive income (loss) before reclassifications	46		13		(1)		(1)		—		57
Less: Amounts reclassified from AOCI to:
Net realized investment gains (losses)	(6)		(10)		—		—		—		(16)
Total before tax	(6)		(10)		—		—		—		(16)
Tax (provision) benefit	—		2		—		—		—		2
Total amount reclassified from AOCI, net of tax	(6)		(8)		—		—		—		(14)
Other comprehensive income (loss)	52		21		(1)		(1)		—		71
Balance, March 31, 2025	$	(183)	$	(78)	$	(19)	$	(38)	$	4	$	(314)

Changes in Accumulated Other Comprehensive Income (Loss) by Component

First Quarter 2024

	Net Unrealized Gains (Losses) on Investments with:				ISCR on  FG VIEs’ Liabilities with Recourse		Cumulative Translation Adjustment		Cash Flow  Hedge		Total AOCI
	No Credit Impairment		Credit Impairment
	(in millions)
Balance, December 31, 2023	$	(202)	$	(104)	$	(20)	$	(38)	$	5	$	(359)
Other comprehensive income (loss) before reclassifications	(31)		10		(2)		1		—		(22)
Less: Amounts reclassified from AOCI to:
Net realized investment gains (losses)	(2)		10		—		—		—		8
Fair value gains (losses) on FG VIEs	—		—		(1)		—		—		(1)
Total before tax	(2)		10		(1)		—		—		7
Tax (provision) benefit	—		(1)		—		—		—		(1)
Total amount reclassified from AOCI, net of tax	(2)		9		(1)		—		—		6
Other comprehensive income (loss)	(29)		1		(1)		1		—		(28)
Balance, March 31, 2024	$	(231)	$	(103)	$	(21)	$	(37)	$	5	$	(387)

Share Repurchases

The repurchase program may be modified, extended or terminated by AGL’s Board of Directors at any time and does not have an expiration date. As of May 8, 2025, the remaining amount the Company was authorized to purchase was approximately $181 million of its common shares. The Company expects to repurchase shares from time to time in the open market or in privately negotiated transactions. The timing, form and amount of the share repurchases under the program are at

the discretion of management and will depend on a variety of factors, including funds available at the parent company, other potential uses for such funds, market conditions, the Company’s capital position, legal requirements and other factors.

Share Repurchases

Period	Number of Shares Repurchased	Total Payments (1) (in millions)		Average Price Paid Per Share (1)
2024 (January 1 - March 31)	1,539,278	$	129	$	84.07
2024 (April 1 - June 30)	1,928,328	152		78.50
2024 (July 1- September 30)	1,658,441	131		78.87
2024 (October 1- December 31)	1,054,727	90		86.11
Total 2024	6,180,774	$	502	$	81.28
2025 (January 1 - March 31)	1,335,228	120		89.72
2025 (April 1 - May 8)	603,103	51		84.43
Total 2025	1,938,331	$	171	$	88.08

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(1)    Excludes commissions and excise taxes.