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Segment Information
 9 Months Ended
Sep. 30, 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, 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 September 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$2,435 $2,198 $1,303 $221 $44 $246 $384 
International Commercial2,115 2,188 1,167 285 96 310 330 
Global Personal1,680 1,654 909 345 97 224 79 
Total General Insurance$6,230 $6,040 $3,379 $851 $237 $780 $793 $945 $1,738 
Interest expense— (100)
Other Operations77 (18)
Elimination and consolidations2 2 
Total1,024 1,622 
Reconciling items:
Changes in the fair values of equity securities, AIG's investment in Corebridge and gain/loss on sale of shares(288)(288)
Net investment income on Fortitude Re funds withheld assets29 29 
Net realized losses on Fortitude Re funds withheld assets— (5)
Net realized losses on Fortitude Re funds withheld embedded derivative— (54)
Net realized gains (losses)(c)
(2)(433)
(Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements— 9 
Net loss reserve discount benefit (charge)— 2 
Net results of businesses in run-off(d)
9 1 
Non-operating pension expenses— (6)
Integration and transaction costs associated with acquiring or divesting businesses— (7)
Restructuring and other costs(e)
— (153)
Non-recurring costs related to regulatory or accounting changes— (3)
Total AIG Consolidated$772 $714 
Three Months Ended September 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$2,445 $2,123 $1,532 $206 $64 $225 $96 
International Commercial2,052 2,039 1,092 259 96 272 320 
Global Personal1,883 1,785 987 398 132 247 21 
Total General Insurance$6,380 $5,947 $3,611 $863 $292 $744 $437 $773 $1,210 
Interest expense— (110)
Other Operations120 (28)
Elimination and consolidations(1)3 
Total892 1,075 
Reconciling items:
Changes in the fair values of equity securities, AIG's investment in Corebridge and gain/loss on sale of shares25 25 
Net investment income on Fortitude Re funds withheld assets51 51 
Net realized losses on Fortitude Re funds withheld assets— (18)
Net realized losses on Fortitude Re funds withheld embedded derivative— (157)
Net realized gains (losses)(c)
— 7 
Net loss on divestitures and other— (8)
(Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements— (126)
Net loss reserve discount benefit (charge)— (29)
Net results of businesses in run-off(d)
5 (8)
Integration and transaction costs associated with acquiring or divesting businesses— (22)
Restructuring and other costs(e)
— (137)
Non-recurring costs related to regulatory or accounting changes— (4)
Total AIG Consolidated$973 $649 
Nine Months Ended September 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$6,472 $6,455 $4,169 $654 $137 $681 $814 
International Commercial6,467 6,363 3,515 799 274 905 870 
Global Personal4,697 4,869 2,889 1,069 259 674 (22)
Total General Insurance$17,636 $17,687 $10,573 $2,522 $670 $2,260 $1,662 $2,552 $4,214 
Interest expense— (292)
Other Operations273 — 
Elimination and consolidations(1)— 
Total2,824 3,922 
Reconciling items:
Changes in the fair values of equity securities, AIG's investment in Corebridge and gain/loss on sale of shares393 393 
Gain (loss) on extinguishment of debt— 5 
Net investment income on Fortitude Re funds withheld assets108 108 
Net realized losses on Fortitude Re funds withheld assets— (59)
Net realized losses on Fortitude Re funds withheld embedded derivative— (109)
Net realized gains (losses)(c)
(4)(690)
Net gain on divestitures and other— 53 
Non-operating litigation reserves and settlements— 13 
Unfavorable prior year development and related amortization changes ceded under retroactive reinsurance agreements— (53)
Net loss reserve discount charge— (27)
Net results of businesses in run-off(d)
22 8 
Non-operating pension expenses— (16)
Integration and transaction costs associated with acquiring or divesting businesses— (13)
Restructuring and other costs(e)
— (307)
Non-recurring costs related to regulatory or accounting changes— (10)
Total AIG Consolidated$3,343 $3,218 
Nine Months Ended September 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$6,228 $6,046 $4,109 $615 $164 $635 $523 
International Commercial6,275 6,081 3,381 753 266 801 880 
Global Personal5,322 5,355 2,982 1,164 395 754 60 
Total General Insurance$17,825 $17,482 $10,472 $2,532 $825 $2,190 $1,463 $2,281 $3,744 
Interest expense— (336)
Other Operations332 (164)
Elimination and consolidations(1)(3)
Total2,612 3,241 
Reconciling items:
Changes in the fair values of equity securities, AIG's investment in Corebridge and gain/loss on sale of shares172 172 
Other income (expense) - net16 — 
Gain (loss) on extinguishment of debt— (1)
Net investment income on Fortitude Re funds withheld assets123 123 
Net realized losses on Fortitude Re funds withheld assets— (38)
Net realized losses on Fortitude Re funds withheld embedded derivative— (158)
Net realized gains (losses)(c)
6 (234)
Net gain on divestitures and other— 94 
Unfavorable prior year development and related amortization changes ceded under retroactive reinsurance agreements— (66)
Net loss reserve discount charge— (131)
Net results of businesses in run-off(d)
13 4 
Integration and transaction costs associated with acquiring or divesting businesses— (37)
Restructuring and other costs(e)
— (630)
Non-recurring costs related to regulatory or accounting changes— (15)
Total AIG Consolidated$2,942 $2,324 
(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. In the third quarter of 2025, AIG began excluding the net results of run-off businesses previously reported in General Insurance from Adjusted pre-tax income.
(e)In the three and nine months ended September 30, 2025 and 2024, Restructuring and other costs was primarily related to employee-related costs, including severance, and, in the nine months ended September 30, 2024, real estate impairment charges.
For the three and nine months ended September 30, 2024, we recorded severance charges of $66 million and $351 million, respectively, and asset impairment charges of $53 million for the nine months ended September 30, 2024, as a result of restructuring activities.