Segment Information (Tables)

3 Months Ended

Mar. 31, 2025

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 Commercial	2,027		2,051		1,178		245		94		294		240
Global Personal	1,325		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 Operations															108		21
Elimination and consolidations															1		—
Total															845		909
Reconciling items:
Changes in the fair values of equity securities and AIG's investment in Corebridge															217		217


Net investment income on Fortitude Re funds withheld assets															40		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 Commercial	1,939		2,011		1,088		244		89		260		330
Global Personal	1,540		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 Operations															76		(89)
Elimination and consolidations															3		(1)
Total															841		1,153
Reconciling items:
Changes in the fair values of equity securities and AIG's investment in Corebridge															88		88
Other income (expense) - net															1		—

Net investment income on Fortitude Re funds withheld assets															39		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.