XML 41 R28.htm IDEA: XBRL DOCUMENT v3.25.2
Segment Information (Tables)
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Schedule of Segment Information
The following table presents AIG’s continuing operations by segment:
Three Months Ended June 30, 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$2,863 $2,133 $1,340 $206 $46 $240 $301 
International Commercial2,325 2,124 1,170 269 84 301 300 
Global Personal1,692 1,621 918 371 71 236 25 
Total General Insurance$6,880 $5,878 $3,428 $846 $201 $777 $626 $871 $1,497 
Interest expense— (101)
Other Operations88 (3)
Elimination and consolidations(4)(2)
Total955 1,391 
Reconciling items:
Changes in the fair values of equity securities, AIG's investment in Corebridge and gain on sale of shares464 464 
Gain (loss) on extinguishment of debt— 5 
Net investment income on Fortitude Re funds withheld assets39 39 
Net realized losses on Fortitude Re funds withheld assets— (52)
Net realized gains (losses) on Fortitude Re funds withheld embedded derivative— (14)
Net realized losses(c)
— (191)
Net gain on divestitures and other— 50 
Non-operating litigation reserves and settlements— 2 
(Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements— (53)
Net loss reserve discount charge— (12)
Net results of businesses in run-off(d)
8 2 
Non-operating pension expenses— (5)
Integration and transaction costs associated with acquiring or divesting businesses— (1)
Restructuring and other costs(e)
— (78)
Non-recurring costs related to regulatory or accounting changes— (3)
Total AIG Consolidated$1,466 $1,544 
Three Months Ended June 30, 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$2,750 $1,940 $1,307 $189 $63 $190 $191 
International Commercial2,284 2,031 1,201 250 81 269 230 
Global Personal1,899 1,778 1,000 402 114 253 9 
Total General Insurance$6,933 $5,749 $3,508 $841 $258 $712 $430 $746 $1,176 
Interest expense— (111)
Other Operations136 (47)
Elimination and consolidations(3)(5)
Total879 1,013 
Reconciling items:
Changes in the fair values of equity securities, AIG's investment in Corebridge and gain on sale of shares59 59 
Other income (expense) - net15 — 
Gain (loss) on extinguishment of debt— (1)
Net investment income on Fortitude Re funds withheld assets33 33 
Net realized losses on Fortitude Re funds withheld assets— (1)
Net realized gains (losses) on Fortitude Re funds withheld embedded derivative— 8 
Net realized losses(c)
(1)(186)
Net gain on divestitures and other— 102 
(Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements— 62 
Net loss reserve discount charge— (26)
Net results of businesses in run-off(d)
5 5 
Integration and transaction costs associated with acquiring or divesting businesses— (18)
Restructuring and other costs(e)
— (426)
Non-recurring costs related to regulatory or accounting changes— (7)
Total AIG Consolidated$990 $617 
Six Months Ended June 30, 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$4,037 $4,257 $2,866 $433 $93 $435 $430 
International Commercial4,352 4,175 2,348 514 178 595 540 
Global Personal3,017 3,215 1,980 724 162 450 (101)
Total General Insurance$11,406 $11,647 $7,194 $1,671 $433 $1,480 $869 $1,607 $2,476 
Interest expense— (192)
Other Operations196 18 
Elimination and consolidations(3)(2)
Total1,800 2,300 
Reconciling items:
Changes in the fair values of equity securities, AIG's investment in Corebridge and gain on sale of shares681 681 
Gain (loss) on extinguishment of debt— 5 
Net investment income on Fortitude Re funds withheld assets79 79 
Net realized losses on Fortitude Re funds withheld assets— (54)
Net realized losses on Fortitude Re funds withheld embedded derivative— (55)
Net realized gains (losses)(c)
(2)(257)
Net gain on divestitures and other— 53 
Non-operating litigation reserves and settlements— 13 
(Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements— (62)
Net loss reserve discount charge— (29)
Net results of businesses in run-off(d)
13 7 
Non-operating pension expenses— (10)
Integration and transaction costs associated with acquiring or divesting businesses— (6)
Restructuring and other costs(e)
— (154)
Non-recurring costs related to regulatory or accounting changes— (7)
Total AIG Consolidated$2,571 $2,504 
Six Months Ended June 30, 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$3,783 $3,923 $2,577 $409 $100 $410 $427 
International Commercial4,223 4,042 2,289 494 170 529 560 
Global Personal3,439 3,570 1,995 766 263 507 39 
Total General Insurance$11,445 $11,535 $6,861 $1,669 $533 $1,446 $1,026 $1,508 $2,534 
Interest expense— (226)
Other Operations212 (136)
Elimination and consolidations— (6)
Total1,720 2,166 
Reconciling items:
Changes in the fair values of equity securities, AIG's investment in Corebridge and gain on sale of shares147 147 
Other income (expense) - net16 — 
Gain (loss) on extinguishment of debt— (1)
Net investment income on Fortitude Re funds withheld assets72 72 
Net realized losses on Fortitude Re funds withheld assets— (20)
Net realized losses on Fortitude Re funds withheld embedded derivative— (1)
Net realized gains (losses)(c)
6 (241)
Net gain on divestitures and other— 102 
(Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements— 60 
Net loss reserve discount charge— (102)
Net results of businesses in run-off(d)
8 12 
Integration and transaction costs associated with acquiring or divesting businesses— (15)
Restructuring and other costs(e)
— (493)
Non-recurring costs related to regulatory or accounting changes— (11)
Total AIG Consolidated$1,969 $1,675 
(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.
(e)In the second quarter of 2024, Restructuring and other costs was primarily related to employee-related costs, including severance, and real estate impairment charges.