01—Abstract
Summary
Summary of the 10-Q filed November 5, 2025. Cited figures are marked; the original filing is the authoritative source.
For the third quarter of 2025, AMERICAN INTERNATIONAL GROUP, INC. (AIG) demonstrated a solid financial performance with a reported net income attributable to AIG common shareholders of $519 milliona, a significant increase from $459 million in the prior year's third quarter.
This growth was driven by a combination of factors, including improved underwriting results within its General Insurance segment, a reduction in net realized losses associated with its Fortitude Re arrangements, and a positive impact from discontinued operations related to the deconsolidation of Corebridge. Despite headwinds such as increased net realized losses in other areas, primarily from impairments on real estate funds and foreign exchange losses, and a decrease in net investment income due to shifts in its Corebridge investment valuation, AIG's overall financial health remained robust.
The company continues to execute on its strategic objectives, including managing its investment portfolio for yield enhancement and capital preservation, and demonstrating a commitment to shareholder returns through dividends and share repurchases. The report also highlights favorable prior year reserve development and a solid combined ratio, signaling effective risk management within its core insurance operations.
02—Key points
Key Highlights
- Net income attributable to AIG common shareholders increased to $519 million from $459 million in the prior year's third quarter.
- General Insurance segment reported an underwriting income of $793 million, a significant increase from $437 million in Q3 2024, driven by lower catastrophe losses and favorable prior year reserve development.
- Net investment income decreased by 21% to $772 million, primarily due to a decrease in fair value and gains/losses on AIG's investment in Corebridge.
- Net realized losses increased substantially to $490 million from $167 million, largely due to impairments on real estate funds and foreign exchange losses.
- The company repurchased approximately 66 million shares of AIG Common Stock for $5.3 billion during the nine months ended September 30, 2025.
- The company declared a cash dividend of $0.45 per share, payable on December 30, 2025.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ3 FY2025filed November 5, 2025Financial Statements
Q3 FY2025 against Q3 FY2024
| Line item | Q3 FY2025Q3 FY2024 | Change |
|---|---|---|
| Revenue | $6.35B$6.75B | −5.9% |
| SG&A Expenses | $1.30B$1.35B | −3.6% |
| Interest Expense | $99.00M$112.00M | −11.6% |
| Net Income | $519.00M$459.00M | +13.1% |
| EPS (Basic) | $0.94$0.72 | +30.6% |
| EPS (Diluted) | $0.93$0.71 | +31.0% |
| Shares Outstanding (Basic) | 553.31M641.62M | −13.8% |
| Shares Outstanding (Diluted) | 558.52M647.37M | −13.7% |
05—Questions
Frequently Asked Questions
What was AIG's net income for the third quarter of 2025?
For the third quarter ended September 30, 2025, AIG reported a net income attributable to AIG common shareholders of $519 million.
How did AIG's General Insurance segment perform in Q3 2025?
The General Insurance segment reported a strong underwriting income of $793 million for the third quarter of 2025, up significantly from $437 million in the same period of 2024. This improvement was driven by lower catastrophe losses and favorable prior year reserve development.
What is the company's outlook on share repurchases and dividends?
AIG continues to prioritize shareholder returns. During the nine months ended September 30, 2025, the company repurchased approximately $5.3 billion of its common stock. Additionally, AIG declared a cash dividend of $0.45 per share, payable in December 2025, reflecting its commitment to returning capital to shareholders.
Were there any significant changes in AIG's investment portfolio during the quarter?
While net investment income saw a decrease, partly due to changes in the valuation of its Corebridge investment, AIG's investment portfolio composition remains largely stable. The company continues to focus on enhancing yields and preserving capital, with a significant portion of its investments in fixed maturity securities.
06—Continue