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Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Fixed maturity securities:    
Bonds available for sale, at fair value, net of allowance for credit losses of $136 in 2023 and $186 in 2022 (amortized cost: 2023 - $254,179; 2022 - $255,993)* [1] $ 229,397 $ 226,156
Other bond securities, at fair value (See Note 5) [1] 4,762 4,485
Equity securities, at fair value (See Note 5) [1] 591 575
Mortgage and other loans receivable, net of allowance for credit losses of $38,421 in 2023 and $38,351 in 2022* [1] 50,830 49,605
Other invested assets (portion measured at fair value: 2023 - $12,163; 2022 - $12,042)* [1] 16,104 15,953
Short-term investments, including restricted cash of $105 in 2023 and $140 in 2022 (portion measured at fair value: 2023 - $6,866; 2022 - $5,708)* [1] 13,253 12,376
Total investments 314,937 309,150
Cash [1] 1,923 2,043
Accrued investment income [1] 2,451 2,376
Premiums and other receivables, net of allowance for credit losses and disputes of $175 in 2023 and $169 in 2022 15,523 13,243
Deferred income taxes 14,480 14,804
Deferred policy acquisition costs 13,304 12,857
Market risk benefit assets, at fair value 830 796
Other assets, net of allowance for credit losses of $49 in 2023 and $49 in 2022, including restricted cash of $30 in 2023 and $33 in 2022 (portion measured at fair value: 2023 - $726; 2022 - $621)* [1] 12,967 12,384
Separate account assets, at fair value 87,357 84,853
Total assets 536,627 522,228
Liabilities:    
Liability for unpaid losses and loss adjustment expenses, including allowance for credit losses of $14 in 2023 and $14 in 2022 75,793 75,167
Unearned premiums 20,817 18,338
Future policy benefits for life and accident and health insurance contracts 54,846 51,914
Policyholder contract deposits (portion measured at fair value: 2023 - $6,109; 2022 - $5,408) 157,896 155,984
Market risk benefit liabilities, at fair value 5,144 4,736
Other policyholder funds 3,461 3,463
Fortitude Re funds withheld payable (portion measured at fair value: 2023 - $(1,863); 2022 - $(2,235)) 30,368 30,383
Other liabilities (portion measured at fair value: 2023 - $367; 2022 - $343)* [1] 28,595 26,757
Separate account liabilities 87,357 84,853
Total liabilities 490,321 478,774
Contingencies, commitments and guarantees (See Note 14)
AIG shareholders’ equity:    
Series A non-cumulative preferred stock and additional paid in capital, $5.00 par value; 100,000,000 shares authorized; shares issued: 2023 - 20,000 and 2022 - 20,000; liquidation preference $500 485 485
Common stock, $2.50 par value; 5,000,000,000 shares authorized; shares issued: 2023 - 1,906,671,492 and 2022 - 1,906,671,492 4,766 4,766
Treasury stock, at cost; 2023 - 1,179,092,272 shares; 2022 - 1,172,543,436 shares of common stock (56,857) (56,473)
Additional paid-in capital 79,562 79,915
Retained earnings 34,690 34,893
Accumulated other comprehensive loss (19,329) (22,616)
Total AIG shareholders’ equity 43,317 40,970
Non-redeemable noncontrolling interests 2,989 2,484
Total equity 46,306 43,454
Total liabilities and equity 536,627 522,228
Recurring Basis    
Fixed maturity securities:    
Other invested assets (portion measured at fair value: 2023 - $12,163; 2022 - $12,042)* 12,163 12,042
Short-term investments, including restricted cash of $105 in 2023 and $140 in 2022 (portion measured at fair value: 2023 - $6,866; 2022 - $5,708)* 6,866 5,708
Market risk benefit assets, at fair value 830 796
Other assets, net of allowance for credit losses of $49 in 2023 and $49 in 2022, including restricted cash of $30 in 2023 and $33 in 2022 (portion measured at fair value: 2023 - $726; 2022 - $621)* 726 621
Liabilities:    
Policyholder contract deposits (portion measured at fair value: 2023 - $6,109; 2022 - $5,408) 6,109 5,408
Market risk benefit liabilities, at fair value 5,144 4,736
Fortitude Re funds withheld payable (portion measured at fair value: 2023 - $(1,863); 2022 - $(2,235)) 1,863 2,235
Consolidated Entities, Excluding Consolidated Investments    
Liabilities:    
Short-term and long-term debt 22,100 21,299
Consolidated Investments, Including Variable Interest Entities, Primarily Beneficiary    
Liabilities:    
Short-term and long-term debt [1] 3,944 5,880
Fortitude RE    
Fixed maturity securities:    
Reinsurance assets, net of allowance for credit losses and disputes 31,149 30,751
Excluding Fortitude    
Fixed maturity securities:    
Reinsurance assets, net of allowance for credit losses and disputes $ 41,706 $ 38,971
[1] See Note 9 for details of balances associated with variable interest entities.