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Held-For-Sale Classification and Discontinued Operations Presentation (Tables)
 9 Months Ended
Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]  
Financial Information Related to Corebridge as an Equity Method Investee
Three Months Ended
September 30,		Nine Months Ended
September 30,
(in millions)2024202320242023
Corebridge pre-tax income$(1,594)$2,461 $(122)$2,703 
Equity method income (loss) related to Corebridge (based on fair value)$11 $584 $2,094 $(87)
Financial Information for Assets and Liabilities Held for Sale and Discontinued Operations
The following table summarizes the components of assets and liabilities held-for-sale and assets and liabilities of discontinued operations on the Condensed Consolidated Balance Sheets at September 30, 2024 and December 31, 2023:
September 30, 2024December 31, 2023
(in millions)Assets
and
Liabilities
Held
for Sale		Assets
and
Liabilities
Held
for Sale		Corebridge
(Assets and
Liabilities of
Discontinued
Operations)
Assets:
Investments:
Fixed maturity securities:
Bonds available for sale, at fair value, net of allowance for credit losses$— $14 $166,657 
Other bond securities, at fair value— — 4,579 
Equity securities, at fair value— — 63 
Mortgage and other loans receivable, net of allowance for credit losses— — 46,732 
Other invested assets— — 9,916 
Short-term investments
11 1 4,346 
Total investments11 15 232,293 
Cash85 — 618 
Accrued investment income— — 2,011 
Premiums and other receivables, net of allowance for credit losses and disputes32 9 709 
Reinsurance assets - Fortitude Re, net of allowance for credit losses and disputes— — 26,772 
Reinsurance assets - other, net of allowance for credit losses and disputes3 2,519 
Deferred income taxes(9)— 8,307 
Deferred policy acquisition costs— — 10,782 
Market risk benefit assets, at fair value— — 912 
Other assets, net of allowance for credit losses(a)
18 3 2,820 
Separate account assets, at fair value— — 91,005 
Total assets held for sale/assets of discontinued operations$137 $30 $378,748 
Liabilities:
Liability for unpaid losses and loss adjustment expenses, including allowance for credit losses$— $19 $— 
Unearned premiums— 7 65 
Future policy benefits — — 57,946 
Policyholder contract deposits— — 161,979 
Market risk benefit liabilities, at fair value— — 5,705 
Other policyholder funds— — 2,862 
Fortitude Re funds withheld payable— — 25,957 
Other liabilities78 2 8,790 
September 30, 2024December 31, 2023
(in millions)Assets
and
Liabilities
Held
for Sale		Assets
and
Liabilities
Held
for Sale		Corebridge
(Assets and
Liabilities of
Discontinued
Operations)
Short-term and long-term debt— — 9,420 
Debt of consolidated investment entities— — 2,360 
Separate account liabilities— — 91,005 
Total liabilities held for sale/liabilities of discontinued operations$78 $28 $366,089 
(a)Other assets, net of allowance for credit losses includes goodwill and other intangibles of $116 million and $3 million, respectively, for Corebridge at December 31, 2023.
The following table presents the amounts related to the operations of Corebridge that have been reflected in Net income from discontinued operations:
Three Months Ended
September 30,		Nine Months Ended
September 30,
(in millions)2024202320242023
Revenues:
Premiums$— $701 $2,723 $5,249 
Policy fees— 702 1,269 2,094 
Net investment income— 2,705 5,238 8,125 
Net realized gains (losses)— 1,216 (923)(464)
Other income— 186 372 561 
Total revenues— 5,510 8,679 15,565 
Benefits, losses and expenses:
Policyholder benefits and losses incurred— 1,106 3,618 6,478 
Change in the fair value of market risk benefits, net— (418)(350)(484)
Interest credited to policyholder account balances— 1,135 2,184 3,237 
Amortization of deferred policy acquisition costs— 268 465 779 
General operating and other expenses— 805 1,350 2,317 
Interest expense— 143 249 474 
Net (gain) loss on divestitures and other— 2 (191)(52)
Total benefits, losses and expenses— 3,041 7,325 12,749 
Income (loss) from discontinued operations before income tax expense (benefit) and loss on disposal of discontinued operations— 2,469 1,354 2,816 
Income tax expense (benefit)— 420 226 341 
Income (loss) from discontinued operations, net of income taxes before loss on disposal of discontinued operations— 2,049 1,128 2,475 
Loss on disposition of operations, net of tax(24)(3)(4,708)(3)
Income (loss) from discontinued operations, net of income taxes(24)2,046 (3,580)2,472 
Less: Net income (loss) from discontinued operations attributable to noncontrolling interests(2)720 475 801 
Net income (loss) from discontinued operations attributable to AIG$(22)$1,326 $(4,055)$1,671 
The loss on deconsolidation of Corebridge is calculated as follows:
(in millions)
Corebridge retained investment (48.4% @28.90 per share at June 9, 2024)
$8,502 
Retained interest in certain investment entities and other assets1,195 
Net fair value of assets retained9,697 
Corebridge book value at June 9, 202412,392 
Less: Noncontrolling interests5,732 
Corebridge book value excluding noncontrolling interest6,660 
Gain on sale pre-tax3,037 
Tax expense507 
Subtotal: After tax gain 2,530 
Reclassification adjustment of Accumulated other comprehensive loss at June 9, 2024(7,214)
Loss on sale of Corebridge - after-tax$(4,684)