01—Abstract
Summary
Summary of the 10-K filed February 12, 2026. Cited figures are marked; the original filing is the authoritative source.
American International Group, Inc. (AIG) reported solid financial performance for the fiscal year ended December 31, 2025, with net income attributable to common shareholders increasing significantly compared to the prior year.
The company generated underwriting income of $2.3 billiona, with a combined ratio of 90.1, indicating improved underwriting profitability. AIG demonstrated a commitment to capital return, distributing approximately $6.8 billion to shareholders through share repurchases and dividends. Furthermore, the company's financial strength was recognized with upgrades to its insurance subsidiaries' financial strength ratings from major agencies, reflecting a stronger and more stable financial position.
AIG's strategic initiatives in 2025 included key acquisitions and investments designed to enhance its market position and expand its capabilities, such as acquiring renewal rights for Everest's global retail commercial insurance portfolios and announcing strategic investments in Convex Group Limited and Onex Corporation. These actions, combined with robust underwriting results and prudent capital management, position AIG for continued growth and value creation.
02—Key points
Key Highlights
- Net income attributable to AIG common shareholders increased significantly, reaching $5.43 per diluted share (Adjusted after-tax income per diluted share of $7.09), a 43% rise from the prior year.
- Underwriting income improved to $2.3 billion, with a combined ratio of 90.1, signifying enhanced underwriting performance.
- AIG returned approximately $6.8 billion to shareholders in 2025 through share repurchases ($5.8 billion) and dividends ($1.0 billion).
- Key financial strength ratings for AIG's insurance subsidiaries were upgraded by Fitch, S&P, and Moody's, with an affirmation from A.M. Best, signaling improved financial stability.
- Strategic acquisitions and investments were made, including the renewal rights of Everest's global retail commercial insurance portfolios for $301 million and strategic investments in Convex Group Limited ($2.1 billion) and Onex Corporation ($646 million).
- Net premiums written for General Insurance remained stable year-over-year at $23.7 billion.
- The company continues to focus on human capital management, with 38% of open positions filled internally in 2025, highlighting a commitment to talent development and internal promotion.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-KFY2025filed February 12, 2026Financial Statements
FY2025 against FY2024
| Line item | FY2025FY2024 | Change |
|---|---|---|
| Revenue | $26.77B$27.25B | −1.7% |
| SG&A Expenses | $5.05B$5.53B | −8.6% |
| Interest Expense | $396.00M$462.00M | −14.3% |
| Net Income | $3.10B-$1.40B | +320.5% |
| EPS (Basic) | $5.48$-2.19 | +350.2% |
| EPS (Diluted) | $5.43$-2.17 | +350.2% |
| Shares Outstanding (Basic) | 565.08M651.45M | −13.3% |
| Shares Outstanding (Diluted) | 570.35M657.28M | −13.2% |
05—Questions
Frequently Asked Questions
What was AIG's overall financial performance in 2025?
AIG reported a strong financial performance in 2025. Net income attributable to common shareholders increased significantly by 43% compared to the prior year, reaching $5.43 per diluted share (Adjusted after-tax income per diluted share of $7.09). The company generated $2.3 billion in underwriting income and maintained a combined ratio of 90.1, indicating improved underwriting profitability and operational efficiency.
How did AIG manage its capital and return value to shareholders in 2025?
AIG demonstrated a strong commitment to returning capital to shareholders in 2025. The company returned approximately $6.8 billion to shareholders, comprising $5.8 billion in share repurchases, which reduced outstanding shares by 11%, and $1.0 billion in common stock dividends. This reflects AIG's confidence in its financial position and its focus on enhancing shareholder value.
What were AIG's key strategic moves in 2025?
In 2025, AIG executed several strategic transactions to strengthen its business. Notable actions include the acquisition of renewal rights for Everest Group's global retail commercial insurance portfolios for $301 million. Additionally, AIG announced significant strategic investments in Convex Group Limited ($2.1 billion) and Onex Corporation ($646 million), indicating a focus on expanding capabilities and enhancing market reach through strategic partnerships and acquisitions.
How has AIG's financial strength been rated?
AIG's financial strength has been positively recognized, with upgrades to the financial strength ratings of its significant insurance subsidiaries by Fitch, S&P, and Moody's, and an affirmation by A.M. Best. These upgrades reflect the company's improved financial stability and operational performance.
06—Continue