Discontinued Operations Presentation (Tables)

12 Months Ended

Dec. 31, 2025

Discontinued Operations and Disposal Groups [Abstract]

Financial Information Related to Corebridge as an Equity Method Investee

The following provides Corebridge's pre-tax income as well as our equity method income (representing the sum of dividends received and changes in Corebridge's stock price).

Years Ended December 31,
(in millions)	2025		2024
Corebridge pre-tax income (loss)	$	(541)	$	1,574
Equity method income related to Corebridge (based on fair value)	$	277	$	601

Financial Information for Discontinued Operations

The following table presents the amounts related to the operations of Corebridge that have been reflected in Net income from discontinued operations:

Years Ended December 31,
(in millions)	2024		2023
Revenues:
Premiums	$	2,723	$	7,690
Policy fees	1,269		2,797
Net investment income	5,238		11,146
Net realized losses	(923)		(3,530)
Other income	372		761
Total revenues	8,679		18,864
Benefits, losses and expenses:
Policyholder benefits and losses incurred	3,618		9,362
Change in the fair value of market risk benefits, net	(350)		2
Interest credited to policyholder account balances	2,184		4,424
Amortization of deferred policy acquisition costs	465		1,037
General operating and other expenses	1,350		3,100
Interest expense	249		620
Net gain on divestitures and other	(191)		(672)
Total benefits, losses and expenses	7,325		17,873
Income from discontinued operations before income tax expense and loss on disposal of discontinued operations	1,354		991
Income tax expense (benefit)	226		(146)
Income from discontinued operations, net of income taxes before loss on disposal of discontinued operations	1,128		1,137
Loss on disposition of operations, net of tax	(4,754)		—
Income (loss) from discontinued operations, net of income taxes	(3,626)		1,137
Less: Net income from discontinued operations attributable to noncontrolling interests	478		235
Net income (loss) from discontinued operations attributable to AIG	$	(4,104)	$	902

The loss on deconsolidation of Corebridge, as of December 31, 2024, is calculated as follows:

(in millions)
Corebridge retained investment (294.2 million shares at $28.90 per share at June 9, 2024)	$	8,502
Retained interest in certain investment entities and other assets	1,180
Net fair value of assets retained	9,682
Corebridge book value	12,409
Less: Noncontrolling interests	5,732
Corebridge book value excluding noncontrolling interests	6,677
Pre-tax gain on sale	3,005
Tax expense	545
Subtotal: After tax gain on sale before reclassification adjustment	2,460
Reclassification adjustment of Accumulated other comprehensive loss	(7,214)
After-tax loss on sale of Corebridge	$	(4,754)