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Equity
 9 Months Ended
Sep. 30, 2025
Stockholders' Equity Note [Abstract]  
Equity
14. Equity
SHARES OUTSTANDING
Common Stock
The following table presents a rollforward of outstanding shares:
Nine Months Ended September 30, 2025
Common
Stock Issued		Treasury
Stock		Common Stock
Outstanding
(in millions)
Shares, beginning of year1,906.7 (1,300.6)606.1 
Shares issued— 4.2 4.2 
Shares repurchased— (65.8)(65.8)
Shares, end of period1,906.7 (1,362.2)544.5 
Dividends
Dividends are payable on AIG common stock, par value $2.50 per share (AIG Common Stock) only when, as and if declared by our Board of Directors in its discretion, from funds legally available for this purpose. In considering whether to pay a dividend on or purchase shares of AIG Common Stock, our Board of Directors considers a number of factors, including, but not limited to: the capital resources available to support our insurance operations and business strategies, AIG’s funding capacity and capital resources in comparison to internal benchmarks, expectations for capital generation, rating agency expectations for capital, regulatory standards for capital and capital distributions, and such other factors as our Board of Directors may deem relevant.
For a discussion of restrictions on payments of dividends to AIG Parent by its subsidiaries, see Note 18 to the Consolidated Financial Statements in the 2024 Annual Report.
Repurchase of AIG Common Stock
Shares may be repurchased from time to time in the open market, private purchases, through forward, derivative, accelerated repurchase or automatic repurchase transactions or otherwise. Certain of our share repurchases have been and may from time to time be effected through the Securities Exchange Act of 1934, as amended (the Exchange Act) Rule 10b5-1 repurchase plans. Effective April 1, 2025, the Board of Directors authorized the repurchase of $7.5 billion of AIG Common Stock (inclusive of the approximately $3.4 billion remaining under the Board's prior share repurchase authorization).
The timing of any future repurchases will depend on market conditions, our business and strategic plans, financial condition, results of operations, liquidity and other factors.
Pursuant to an Exchange Act Rule 10b5-1 repurchase plan, from October 1, 2025 to October 30, 2025, we repurchased approximately 5 million shares of AIG Common Stock for an aggregate purchase price of approximately $406 million.
DIVIDENDS DECLARED
On November 4, 2025, our Board of Directors declared a cash dividend on AIG Common Stock of $0.45 per share, payable on December 30, 2025 to shareholders of record on December 16, 2025.
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
The following table presents a rollforward of Accumulated other comprehensive income (loss):
(in millions)Unrealized
Appreciation
(Depreciation)
of Fixed Maturity
Securities on Which
Allowance for Credit
Losses Was Taken		Unrealized
Appreciation
(Depreciation)
of All Other
Investments		Change in Fair
Value of Market
Risk Benefits
Attributable to
Changes in
Our Own
Credit Risk		Change in the
discount rates
used to measure
traditional and
limited payment
long-duration
insurance contracts		Foreign
Currency
Translation
Adjustments		Retirement
Plan
Liabilities
Adjustment		Total
Balance, June 30, 2025, net of tax$(6)$(1,951)$— $75 $(2,899)$(767)$(5,548)
Change in unrealized appreciation (depreciation) of investments
— 543 — — — — 543 
Change in other— 20 — — — — 20 
Change in discount rates— — — 7 — — 7 
Change in foreign currency translation adjustments
— — — — (52)— (52)
Change in net actuarial loss
— — — — — 8 8 
Change in prior service cost
— — — — — 1 1 
Change in deferred tax asset (liability)
— (16)— (2)(4)(3)(25)
Total other comprehensive income (loss)— 547 — 5 (56)6 502 
Balance, September 30, 2025, net of tax$(6)$(1,404)$— $80 $(2,955)$(761)$(5,046)
Balance, June 30, 2024, net of tax$(38)$(3,422)$— $22 $(3,322)$(805)$(7,565)
Change in unrealized appreciation (depreciation) of investments*
45 1,581 — — — — 1,626 
Change in other— 17 — — — — 17 
Change in discount rates— — — (12)— — (12)
Change in foreign currency translation adjustments
— — — — 427 — 427 
Change in net actuarial loss
— — — — — 2 2 
Change in prior service cost
— — — — — (1)(1)
Change in deferred tax asset (liability)
(8)(249)— 58 (13)— (212)
Total other comprehensive income37 1,349 — 46 414 1 1,847 
Less: Noncontrolling interests— — — — 4 — 4 
Balance, September 30, 2024, net of tax$(1)$(2,073)$— $68 $(2,912)$(804)$(5,722)
(in millions)Unrealized
Appreciation
(Depreciation)
of Fixed Maturity
Securities on Which
Allowance for Credit
Losses Was Taken		Unrealized
Appreciation
(Depreciation)
of All Other
Investments		Change in Fair
Value of Market
Risk Benefits
Attributable to
Changes in
Our Own
Credit Risk		Change in the
discount rates
used to measure
traditional and
limited payment
long-duration
insurance contracts		Foreign
Currency
Translation
Adjustments		Retirement
Plan
Liabilities
Adjustment		Total
Balance, December 31, 2024, net of tax$(4)$(2,868)$— $68 $(3,521)$(774)$(7,099)
Change in unrealized appreciation (depreciation) of investments
(3)1,373 — — — — 1,370 
Change in other— 17 — — — — 17 
Change in discount rates— — — 16 — — 16 
Change in foreign currency translation adjustments— — — — 537 — 537 
Change in net actuarial loss— — — — — 18 18 
Change in prior service cost
— — — — — 1 1 
Change in deferred tax asset (liability)1 74 — (4)30 (6)95 
Total other comprehensive income (loss)(2)1,464 — 12 567 13 2,054 
Less: Noncontrolling interests— — — — 1 — 1 
Balance, September 30, 2025, net of tax$(6)$(1,404)$— $80 $(2,955)$(761)$(5,046)
(in millions)Unrealized
Appreciation
(Depreciation)
of Fixed Maturity
Securities on Which
Allowance for Credit
Losses Was Taken		Unrealized
Appreciation
(Depreciation)
of All Other
Investments		Change in Fair
Value of Market
Risk Benefits
Attributable to
Changes in
Our Own
Credit Risk		Change in the
discount rates
used to measure
traditional and
limited payment
long-duration
insurance contracts		Foreign
Currency
Translation
Adjustments		Retirement
Plan
Liabilities
Adjustment		Total
Balance, December 31, 2023, net of tax$(106)$(10,888)$(476)$1,233 $(2,979)$(821)$(14,037)
Change in unrealized appreciation (depreciation) of investments*98 (729)— — — — (631)
Change in other— 13 — — — — 13 
Change in fair value of market risk benefits, net— — 130 — — — 130 
Change in discount rates— — — 947 — — 947 
Change in future policy benefits— (59)— — — — (59)
Change in foreign currency translation adjustments— — — — 173 — 173 
Change in net actuarial loss— — — — — 19 19 
Change in prior service cost— — — — — 2 2 
Change in deferred tax asset (liability)
(20)(92)(28)(166)(14)(4)(324)
Corebridge deconsolidation, net of tax42 8,513 330 (1,583)(88)— 7,214 
Total other comprehensive income120 7,646 432 (802)71 17 7,484 
Add: Corebridge noncontrolling interests2 610 33 (105)(3)— 537 
Less: Noncontrolling interests17 (559)(11)258 1 — (294)
Balance, September 30, 2024, net of tax$(1)$(2,073)$— $68 $(2,912)$(804)$(5,722)
*Includes net unrealized gains and losses attributable to businesses held for sale or reclassified to discontinued operations at September 30, 2024.
The following table presents the other comprehensive income (loss) reclassification adjustments for the three and nine months ended September 30, 2025 and 2024, respectively:
(in millions)Unrealized
Appreciation
(Depreciation)
of Fixed Maturity
Securities on Which
Allowance for Credit
Losses Was Taken		Unrealized
Appreciation
(Depreciation)
of All Other
Investments		Change in Fair
Value of Market
Risk Benefits
Attributable to
Changes in Our
Own Credit Risk		Change in the
discount rates
used to measure
traditional and
limited payment
long-duration
insurance contracts		Foreign
Currency
Translation
Adjustments		Retirement
Plan
Liabilities
Adjustment		Total
Three Months Ended September 30, 2025
Unrealized change arising during period$— $461 $— $7 $(52)$— $416 
Less: Reclassification adjustments included in net income— (102)— — — (9)(111)
Total other comprehensive income (loss), before income tax expense (benefit)— 563 — 7 (52)9 527 
Less: Income tax expense (benefit)— 16 — 2 4 3 25 
Total other comprehensive income (loss), net of income tax expense (benefit)$— $547 $— $5 $(56)$6 $502 
Three Months Ended September 30, 2024
Unrealized change arising during period$45 $1,514 $— $(12)$427 $(7)$1,967 
Less: Reclassification adjustments included in net income— (84)— — — (8)(92)
Total other comprehensive income (loss), before income tax expense (benefit)45 1,598 — (12)427 1 2,059 
Less: Income tax expense (benefit)8 249 — (58)13 — 212 
Total other comprehensive income (loss), net of income tax expense (benefit)$37 $1,349 $— $46 $414 $1 $1,847 
Nine Months Ended September 30, 2025
Unrealized change arising during period$(3)$875 $— $16 $537 $(5)$1,420 
Less: Reclassification adjustments included in net income— (515)— — — (24)(539)
Total other comprehensive income (loss), before of income tax expense (benefit)(3)1,390 — 16 537 19 1,959 
Less: Income tax expense (benefit)(1)(74)— 4 (30)6 (95)
Total other comprehensive income (loss), net of income tax expense (benefit)$(2)$1,464 $— $12 $567 $13 $2,054 
Nine Months Ended September 30, 2024
Unrealized change arising during period$98 $(1,129)$130 $947 $173 $(2)$217 
Less: Reclassification adjustments included in net income(42)(8,867)(330)1,583 88 (23)(7,591)
Total other comprehensive income (loss), before income tax expense (benefit)140 7,738 460 (636)85 21 7,808 
Less: Income tax expense (benefit)20 92 28 166 14 4 324 
Total other comprehensive income (loss), net of income tax expense (benefit)$120 $7,646 $432 $(802)$71 $17 $7,484 
The following table presents the effect of the reclassification of significant items out of AOCI on the respective line items in the Condensed Consolidated Statements of Income (Loss)(a):
Amount Reclassified from AOCIAffected Line Item in the
Three Months Ended September 30,Condensed Consolidated
(in millions)20252024Statements of Income (Loss)
Unrealized appreciation (depreciation) of fixed maturity securities on which allowance for credit losses was taken
Investments$— $— Net realized gains (losses)
Total— — 
Unrealized appreciation (depreciation) of all other investments
Investments(102)(84)Net realized gains (losses)
Total(102)(84)
Change in retirement plan liabilities adjustment
Prior-service credit(1)— 
(b)
Actuarial losses(8)(8)
(b)
Total(9)(8)
Corebridge deconsolidation, net of tax— — 
(c)
Total reclassifications for the period$(111)$(92)
Amount Reclassified from AOCIAffected Line Item in the
Nine Months Ended September 30,Condensed Consolidated
(in millions)20252024Statements of Income (Loss)
Unrealized appreciation (depreciation) of fixed maturity securities on which allowance for credit losses was taken
Investments$— $— Net realized gains (losses)
Total— — 
Unrealized appreciation (depreciation) of all other investments
Investments(515)(354)Net realized gains (losses)
Total(515)(354)
Change in retirement plan liabilities adjustment
Prior-service credit(2)(1)
(b)
Actuarial losses(22)(22)
(b)
Total(24)(23)
Corebridge deconsolidation, net of tax— (7,214)
(c)
Total reclassifications for the period$(539)$(7,591)
(a)The following items are not reclassified out of AOCI and included in the Condensed Consolidated Statements of Income (Loss) and thus have been excluded from the table: (i) Change in fair value of market risk benefits attributable to changes in our own credit risk and (ii) Change in the discount rates used to measure traditional and limited-payment long-duration insurance contracts.
(b)These AOCI components are included in the computation of net periodic pension cost.
(c)Represents adjustments related to the deconsolidation of Corebridge which is reflected in Income (loss) from discontinued operations, net of taxes. See the rollforward of Accumulated other comprehensive income (loss) above for further details.