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Segment Information (Tables)
9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Schedule of Segment Information
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)
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)
— 
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)
(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)
(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 
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.