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Segment Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Information
3. Segment Information
In the fourth quarter of 2024, the Company realigned its organizational structure and the composition of its reportable segments to reflect changes in how the Company manages its operations, specifically the level at which its chief operating decision makers (CODMs) regularly review operating results and allocate resources. Our CODMs are the chief executive officer (CEO) and chief financial officer (CFO). The CODMs evaluate performance of the segments based on underwriting income (loss). The CODMs use this measure to benchmark AIG’s performance, assessing performance of the segments and in establishing management’s compensation.
AIG has three reportable segments: North America Commercial, International Commercial and Global Personal. Prior year's presentations have been recast to conform to the new reportable segments. Our General Insurance business (General Insurance) consists of our three segments and the Net investment income related to our insurance operations.
NORTH AMERICA COMMERCIAL
North America Commercial consists of insurance businesses in the United States, Canada and Bermuda.
INTERNATIONAL COMMERCIAL
International Commercial consists of insurance businesses in Japan, the United Kingdom, Europe, Middle East and Africa (EMEA region), Asia Pacific, Latin America and Caribbean, and China. International also includes the results of Talbot Underwriting Ltd. as well as AIG’s Global Specialty business.
GLOBAL PERSONAL
Global Personal consists primarily of insurance businesses in the United States as well as Japan, the United Kingdom, Europe, EMEA region, Asia Pacific, Latin America and Caribbean, and China.
PRODUCTS
The segments consist of the following products:
–North America and International Commercial consists of Property & Short Tail, Casualty, Financial Lines and Global Specialty.
–Global Personal consists of Global Accident & Health and Personal Lines.
OTHER OPERATIONS
Other Operations predominantly consists of Net Investment Income from our AIG Parent liquidity portfolio, Corebridge Financial, Inc. (Corebridge) dividend income, corporate General operating expenses, and Interest expense.
SEGMENT RESULTS
Management uses Underwriting income (loss) as the basis for the segment performance reviews. AIG calculates Underwriting income (loss) by subtracting Losses and loss adjustment expense incurred, Amortization of deferred policy acquisition costs (DAC), Other acquisition cost, and General operating expense from Net premiums earned. Assets by reportable segment are not used by the CODMs for purposes of making decisions about allocating resources to the segment and assessing its performance.
The following table presents AIG’s continuing operations by segment:
Three Months Ended March 31, 2025
(in millions)Net
Premiums
Written		Net
Premiums
Earned
Losses
and Loss
Adjustment
Expenses
Incurred(a)
Amortization
of DAC(a)
Other
Acquisition
Expenses(a)
General
Operating
Expenses(a)(b)
Underwriting
Income
(Loss)		Net
Investment
Income		Reconciliation
to Income
(Loss) from
Continuing
Operations
Before
Income Tax
Expense
North America Commercial$1,174 $2,124 $1,526 $227 $47 $195 $129 
International Commercial2,027 2,051 1,178 245 94 294 240 
Global Personal1,325 1,594 1,062 353 91 214 (126)
Total General Insurance$4,526 $5,769 $3,766 $825 $232 $703 $243 $736 $979 
Interest expense— (91)
Other Operations108 21 
Elimination and consolidations1 — 
Total845 909 
Reconciling items:
Changes in the fair values of equity securities and AIG's investment in Corebridge217 217 
Net investment income on Fortitude Re funds withheld assets40 40 
Net realized losses on Fortitude Re funds withheld assets— (2)
Net realized losses on Fortitude Re funds withheld embedded derivative— (41)
Net realized gains (losses)(c)
(2)(66)
Net gain on divestitures and other— 3 
Non-operating litigation reserves and settlements— 11 
Unfavorable prior year development and related amortization changes ceded under retroactive reinsurance agreements— (9)
Net loss reserve discount charge— (17)
Net results of businesses in run-off(d)
5 5 
Non-operating pension expense— (5)
Integration and transaction costs associated with acquiring or divesting businesses— (5)
Restructuring and other costs— (76)
Non-recurring costs related to regulatory or accounting changes— (4)
Total AIG Consolidated$1,105 $960 
Three Months Ended March 31, 2024
(in millions)Net
Premiums
Written		Net
Premiums
Earned
Losses
and Loss
Adjustment
Expenses
Incurred(a)
Amortization
of DAC(a)
Other
Acquisition
Expenses(a)
General
Operating
Expenses(a)(b)
Underwriting
Income
(Loss)		Net
Investment
Income		Reconciliation
to Income
(Loss) from
Continuing
Operations
Before
Income Tax
Expense
North America Commercial$1,033 $1,983 $1,270 $220 $37 $220 $236 
International Commercial1,939 2,011 1,088 244 89 260 330 
Global Personal1,540 1,792 995 364 149 254 30 
Total General Insurance$4,512 $5,786 $3,353 $828 $275 $734 $596 $762 $1,358 
Interest expense— (115)
Other Operations76 (89)
Elimination and consolidations3 (1)
Total841 1,153 
Reconciling items:
Changes in the fair values of equity securities and AIG's investment in Corebridge88 88 
Other income (expense) - net1 — 
Net investment income on Fortitude Re funds withheld assets39 39 
Net realized losses on Fortitude Re funds withheld assets— (19)
Net realized losses on Fortitude Re funds withheld embedded derivative— (9)
Net realized gains (losses)(c)
7 (55)
Unfavorable prior year development and related amortization changes ceded under retroactive reinsurance agreements— (2)
Net loss reserve discount charge— (76)
Net results of businesses in run-off(d)
3 7 
Integration and transaction costs associated with acquiring or divesting businesses— 3 
Restructuring and other costs— (67)
Non-recurring costs related to regulatory or accounting changes— (4)
Total AIG Consolidated$979 $1,058 
(a)These represent our significant expense categories of which amounts align with the segment-level information that is regularly provided to the CODMs.
(b)General operating expenses are primarily comprised of employee compensation and benefits, as well as professional fees.
(c)Includes all Net realized gains and losses except earned income (periodic settlements and changes in settlement accruals) on derivative instruments used for non-qualifying (economic) hedging or for asset replication and net realized gains and losses on Fortitude Re funds withheld assets held by AIG in support of Fortitude Re’s reinsurance obligations to AIG (Fortitude Re funds withheld assets).
(d)In the fourth quarter of 2024, AIG realigned and began excluding the net results of run-off businesses previously reported in Other Operations from Adjusted pre-tax income. Historical results have been recast to reflect these changes.