10-QPeriod: Q3 FY2025

AMERICAN INTERNATIONAL GROUP, INC. Quarterly Report for Q3 Ended Sep 30, 2025

Filed November 5, 2025For Securities:AIG

Summary

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 million, 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.

Financial Highlights

32 data points
Beta

Revenue

$6.35B

Net Income

$519.00M

8.2% Net Margin

EPS (Diluted)

$0.93

Total Assets

$163.41B

Cash & Equivalents

$1.59B

Free Cash Flow

$1.34B

Financial Statements
Beta
Revenue$6.35B
SG&A Expenses$1.30B
Interest Expense$99.00M
Net Income$519.00M
EPS (Basic)$0.94
EPS (Diluted)$0.93
Shares Outstanding (Basic)553.31M
Shares Outstanding (Diluted)558.52M

Key Highlights

  • 1Net income attributable to AIG common shareholders increased to $519 million from $459 million in the prior year's third quarter.
  • 2General 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.
  • 3Net 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.
  • 4Net realized losses increased substantially to $490 million from $167 million, largely due to impairments on real estate funds and foreign exchange losses.
  • 5The company repurchased approximately 66 million shares of AIG Common Stock for $5.3 billion during the nine months ended September 30, 2025.
  • 6The company declared a cash dividend of $0.45 per share, payable on December 30, 2025.

Frequently Asked Questions

For the third quarter ended September 30, 2025, AIG reported a net income attributable to AIG common shareholders of $519 million.

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.

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.

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.