Segment Information (Tables)

3 Months Ended

Mar. 31, 2026

The following table presents AIG’s operations by segment:


Three Months Ended March 31, 2026
(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 Pre-tax Income (Loss)

North America Commercial	$	1,605	$	2,253	$	1,421	$	213	$	68	$	224	$	327
International Commercial	2,450		2,187		1,246		278		85		300		278
Global Personal	1,544		1,612		842		327		80		194		169
Total General Insurance(c)	$	5,599	$	6,052	$	3,509	$	818	$	233	$	718	$	774	$	864	$	1,628

Interest expense															—		(100)
Other Operations															52		(25)
Elimination and consolidations															(1)		—
Total															915		1,503
Reconciling items:
Changes in the fair values of equity securities, AIG's investment in Corebridge and gain/loss on sale of shares															(237)		(237)
Other income (expense) - net															2		—

Net investment income on Fortitude Re funds withheld assets															23		23
Net realized losses on Fortitude Re funds withheld assets															—		(13)
Net realized gains (losses) on Fortitude Re funds withheld embedded derivative															—		10
Net realized losses(d)															—		(136)
Net gain (loss) on divestitures and other(e)															—		(127)

(Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements															—		8
Net loss reserve discount benefit (charge)															—		48
Net results of businesses in run-off(f)															9		(5)
Non-operating pension expenses															—		1
Integration and transaction costs associated with acquiring or divesting businesses															—		(7)
Restructuring and other costs															—		(76)
Non-recurring costs related to regulatory or accounting changes															—		(5)
Total AIG Consolidated															$	712	$	987


Three Months Ended March 31, 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 Pre-tax Income (Loss)

North America Commercial	$	1,174	$	2,124	$	1,526	$	227	$	47	$	195	$	129
International Commercial	2,027		2,051		1,178		245		94		294		240
Global Personal	1,325		1,594		1,062		353		91		214		(126)
Total General Insurance(c)	$	4,526	$	5,769	$	3,766	$	825	$	232	$	703	$	243	$	736	$	975

Interest expense															—		(91)
Other Operations															108		25
Elimination and consolidations															1		—
Total															845		909
Reconciling items:
Changes in the fair values of equity securities, AIG's investment in Corebridge and gain/loss on sale of shares															217		217


Net investment income on Fortitude Re funds withheld assets															40		40
Net realized losses on Fortitude Re funds withheld assets															—		(2)
Net realized gains (losses) on Fortitude Re funds withheld embedded derivative															—		(41)
Net realized losses(d)															(2)		(66)
Net gain (loss) on divestitures and other															—		3
Non-operating litigation reserves and settlements															—		11
(Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements															—		(9)
Net loss reserve discount benefit (charge)															—		(17)
Net results of businesses in run-off(f)															5		5
Non-operating pension expenses															—		(5)
Integration and transaction costs associated with acquiring or divesting businesses															—		(5)
Restructuring and other costs															—		(76)
Non-recurring costs related to regulatory or accounting changes															—		(4)
Total AIG Consolidated															$	1,105	$	960

(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)Amortization of intangible assets including renewal rights was $10 million and $4 million for the three months ended March 31, 2026 and 2025, respectively.

(d)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).

(e)In the three months ended March 31, 2026, Net gain (loss) on divestitures and other primarily relates to a change in estimate for earn-out considerations associated with the dispositions of Validus Reinsurance, Ltd. and global personal travel and assistance business.

(f)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.