AIG · AMERICAN INTERNATIONAL GROUP, INC.

739 filings

AIG SEC Filings

AMERICAN INTERNATIONAL GROUP, INC. - 739 total filings

Filing record · 2016–202610-K1210-Q328-K214

Showing 1–50 of 739 filings

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Corporate Update (Sep 24, 2026)

American International Group, Inc. (AIG) announced on September 24, 2026, the successful closing of a significant debt offering. The company issued €625 million of 4.250% Notes due 2031 and €500 million of 4.750% Notes due 2036, totaling €1.125 billion in aggregate principal amount. This issuance represents AIG's proactive approach to managing its capital structure and accessing diverse funding sources in the European debt markets. Investors should note that this filing primarily details the closing of this debt offering and related transactional documents, including the Underwriting Agreement and Supplemental Indentures. While specific details regarding the use of proceeds are not provided in this particular filing, such debt issuances are typically undertaken to fund general corporate purposes, refinance existing debt, or support strategic initiatives. The fixed coupon rates on these notes indicate AIG's cost of long-term borrowing.

Sep 24, 2026 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Executive Changes (Sep 16, 2026)

American International Group, Inc. (AIG) has announced a significant leadership transition within its General Insurance segment. Effective December 31, 2026, Jon Hancock, currently Executive Vice President and Chief Executive Officer of General Insurance, will retire from his executive role. This departure marks the end of Mr. Hancock's tenure in executive leadership at AIG, having served for over six years, and concludes a distinguished 40-year career in the insurance industry. Investors should note that this is a planned succession, as Mr. Hancock will transition to a Senior Advisor role.

Sep 16, 2026 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Executive Changes (Sep 2, 2026)

On September 2, 2026, AIG announced a board leadership transition. Executive Chair Peter Zaffino will step down as Executive Chair and as a member of the Board effective September 15, 2026, and will become a Senior Advisor to the company, supporting the transition of executive leadership to President & CEO Eric Andersen. Lead Independent Director John Rice will become Chair of the Board on the same date. The filing states that Zaffino's departure is not due to any disagreement with the company, its management, or the Board, or on any matter related to operations, policies, or practices. The filing also discloses an amendment to Zaffino's Employment Agreement (originally dated November 10, 2022, amended January 3, 2026), entered into September 1, 2026. The amendment confirms that neither his move to Senior Advisor nor Rice's appointment as Chair will change his compensation under the agreement, and that neither event will be treated as a termination without Cause or for Good Reason under Sections 7(d) or 7(e). This removes what could otherwise have been a severance trigger, which is a relevant governance detail for investors. The full amendment text is to be filed as an exhibit to the Q3 2026 Form 10-Q rather than attached here. For investors, the event is primarily a governance and succession update rather than a financial one. The filing contains no financial results, guidance, or balance sheet information. The main points to monitor are the continuity of strategic execution under Andersen and Rice, and whether the separation of the Chair and CEO roles changes the board's oversight dynamic.

Sep 2, 2026 10-Q

AMERICAN INTERNATIONAL GROUP, INC. Quarterly Report for Q2 Ended Jun 30, 2026

American International Group, Inc. (AIG) reported a net income of $948 million for the three months ended June 30, 2026, a decrease from $1,144 million in the prior year period. This decline was primarily driven by lower net investment income, which was impacted by changes in the fair value of investments in Corebridge and equity securities, as well as reduced income from alternative investments and mortgage loans. Despite the decrease in net income, the company's General Insurance segment demonstrated resilience, with underwriting income increasing by 10% and the combined ratio improving to 89.0%. This improvement was supported by higher net favorable prior year reserve development and lower catastrophe losses. Operationally, AIG has strategically divested its remaining interest in Corebridge Financial, Inc. in May 2026, completing its exit from the investment. The company also made significant strategic investments, acquiring stakes in Convex Group Limited and Onex Corporation in February 2026. These actions reflect AIG's ongoing efforts to refine its portfolio and focus on core insurance operations. The company repurchased approximately $1.2 billion of its common stock and declared a quarterly dividend of $0.50 per share, signaling a continued commitment to returning capital to shareholders.

Aug 7, 2026 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Financial Results (Aug 6, 2026)

American International Group (AIG) reported second-quarter 2026 results on August 6, 2026, showing a mixed headline picture beneath solid operating performance. GAAP net income attributable to common shareholders fell 17% year-over-year to $948 million ($1.78 per diluted share, down 10%), driven mainly by swings in the fair value of the Corebridge stake and equity securities. Adjusted after-tax income (AATI) rose 2% in dollar terms to $1,069 million, and AATI per diluted share increased 10% to $2.00, helped by a lower share count after heavy buybacks. The underlying General Insurance business was the main driver of quality. Net premiums written grew 9% on both reported and constant-dollar bases to $7.5 billion, and excluding North America Property the growth rate was 11%. General Insurance underwriting income rose 10% to $686 million, the calendar-year combined ratio improved 30 basis points to 89.0%, and the accident year combined ratio, as adjusted, improved to 88.1%. Results were not uniform across segments: International Commercial deteriorated sharply (combined ratio up 540 bps to 91.3%, largely from Middle East conflict losses), while Global Personal improved substantially. Capital management remained active. AIG returned $904 million to shareholders in the quarter ($641 million of buybacks, roughly 8 million shares, and $263 million of dividends), completed the sale of its remaining Corebridge stake for about $710 million, and declared a $0.50 quarterly dividend payable September 30, 2026. Book value per share reached $77.39 (up 4% year-over-year), while core operating ROE was 11.1%, versus 11.7% a year earlier. Management reiterated confidence in its 2025 Investor Day financial objectives while noting that the market has shifted toward a more selective pricing environment.

Aug 6, 2026 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Executive Changes (May 14, 2026)

On May 13, 2026, AIG's Board appointed Thomas D. (Tom) Stoddard as an independent director, effective June 1, 2026. He will serve on the Audit Committee and will receive the standard independent director compensation described in the 2026 proxy statement. The Board determined he is independent under NYSE standards, and the filing states there are no arrangements or family relationships tied to his appointment. Stoddard brings more than 35 years of financial services experience, including former Group CFO roles at Aviva plc and Athora Ltd. and a prior role as Vice Chairman of Global Investment Banking at Bank of America. The press release notes he has worked closely with AIG in the past. The same filing reports results from AIG's May 13, 2026 Annual Meeting. All ten director nominees were elected, though several received substantial opposition. Linda A. Mills (about 89% for) and Diana M. Murphy (about 91% for) had the weakest support among nominees, while James Cole, Jr. and other nominees received roughly 97% to 99% support of votes cast. The advisory say-on-pay proposal on named executive officer compensation passed, but with only about 77.5% of votes cast in favor and roughly 104.7 million votes against, which is a meaningful level of shareholder dissent for investors to monitor. The selection of PricewaterhouseCoopers LLP as 2026 independent auditor was ratified with about 94% support. For investors, the governance changes are incremental: a new independent director with deep financial sector and capital markets experience joining the Audit Committee. The more notable signal is the moderate say-on-pay result and the lower director support for Mills and Murphy, which may warrant attention in future proxy and engagement discussions. The filing contains no financial results, guidance, or transaction disclosures.

May 14, 2026 10-Q

AMERICAN INTERNATIONAL GROUP, INC. Quarterly Report for Q1 Ended Mar 31, 2026

For the first quarter of 2026, American International Group, Inc. (AIG) demonstrated a mixed financial performance. Net income attributable to AIG common shareholders increased by 9% to $763 million, or $1.41 per diluted share, compared to the prior year, driven by improved underwriting income in its General Insurance segment. This improvement was largely due to lower catastrophe losses and favorable prior year reserve development, leading to a significant reduction in the combined ratio to 87.3% from 95.8% in the prior year. However, Net Investment Income saw a substantial decrease of 36% to $712 million, primarily impacted by unfavorable changes in the fair value of investments in Corebridge and equity securities, and lower income from alternative investments and mortgage loans. Despite these investment headwinds, the company's strategic repositioning and focus on underwriting profitability appear to be yielding positive operational results, though investors should closely monitor the impact of market volatility on investment income going forward.

May 1, 2026 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Financial Results (Apr 30, 2026)

AIG reported a strong first quarter 2026, led by a sharp improvement in underwriting performance in General Insurance. Adjusted after-tax income (AATI) per diluted share rose 80% year-over-year to $2.11, and AATI totaled $1.146 billion versus $702 million a year earlier. GAAP net income attributable to common shareholders was $763 million, or $1.41 per diluted share, up 22% from $1.16. The core driver was the General Insurance combined ratio of 87.3%, an 850 basis point improvement, which was largely due to lower catastrophe losses ($180 million versus $525 million a year earlier) and higher favorable prior year development ($132 million versus $64 million). Underwriting income more than tripled to $774 million, and net premiums written grew 24% on a reported basis (18% constant dollar), supported by strategic transactions, favorable January 1 reinsurance renewals, and organic growth. Offsetting the operating strength, reported net investment income fell 36% to $712 million, reflecting fair value changes in the Corebridge stake and equity securities. On an APTI basis, which strips out those marks, net investment income rose 8% to $915 million. Book value per share declined 1% from year-end to $75.82, while adjusted tangible book value per share rose 1% to $70.85. Core operating ROE improved to 12.2% from 7.7%, and reported ROE was 7.5%. AIG returned $760 million to shareholders in the quarter, including $519 million of buybacks (about 7 million shares) and $241 million of dividends. Diluted share count fell to 542.2 million from 599.2 million a year earlier, and total debt to total capital was 18.2%. The Board also declared a quarterly dividend of $0.50 per share, an 11% increase payable June 29, 2026 to holders of record on June 15, 2026. This marks the fourth consecutive year of double-digit dividend growth. Management said it remains on track to meet or exceed the financial objectives set at its March 2025 Investor Day. Investors should note that the quarter benefited from a lower catastrophe load and favorable reserve development, so sustainability of the combined ratio is a key question, and the reported earnings figures were affected by investment marks.

Apr 30, 2026 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Executive Changes (Apr 27, 2026)

American International Group (AIG) announced via Form 8-K that its Board of Directors has appointed Eric Andersen as President and Chief Executive Officer and a member of the Board, effective June 1, 2026. Andersen, age 61, joined AIG in February 2026 as President and CEO-Elect and previously served as President of Aon plc (2020–2025) and Senior Advisor to Aon's CEO (2025–2026). Upon the effective date, current Chairman and CEO Peter Zaffino will become Executive Chair of the Board. The filing describes this as the completion of the leadership transition plan the company previously announced. For investors, this is a planned, pre-disclosed succession rather than an unexpected departure, which generally reduces leadership-uncertainty risk. The filing states there are no undisclosed arrangements, family relationships, or related-party transactions involving either executive, and that Andersen's compensation was already disclosed in an 8-K filed January 6, 2026. The filing itself contains no new financial results, guidance, or compensation terms. Management's strategic direction is framed as continuity: Andersen cites the priorities announced at AIG's 2025 Investor Day and a focus on growth. The key near-term catalyst is AIG's first quarter 2026 earnings call on Friday, May 1, 2026, at 8:30 a.m. ET, where Zaffino and Andersen are expected to comment further on the CEO transition. Investors should look to that call for detail on Andersen's strategic plans, how the Executive Chair role will be structured, and any signals about execution against the 2025 Investor Day targets.

Apr 27, 2026 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Executive Changes (Mar 16, 2026)

This 8-K filing from American International Group, Inc. (AIG) announces the upcoming departure of a long-standing Board member, James Dunne III, who has decided not to seek re-election at the company's 2026 Annual Meeting of Shareholders scheduled for May 13, 2026. Mr. Dunne's decision is not attributed to any disagreements with the Company's operations, policies, or practices, which suggests a smooth transition and no underlying internal conflicts driving his departure. Investors should note that Mr. Dunne will continue to serve on the Board and the Compensation and Management Resources Committee until the Annual Meeting, ensuring continuity in governance during this period. The primary implication for investors is the upcoming vacancy on the Board and the Compensation and Management Resources Committee. While Mr. Dunne's departure is amicable, the change represents a shift in Board composition. Investors will likely want to monitor the Company's selection of a replacement and any subsequent changes in committee dynamics. The absence of any cited disagreements provides reassurance regarding the company's operational stability.

Mar 16, 2026 10-K

AMERICAN INTERNATIONAL GROUP, INC. Annual Report, Year Ended Dec 31, 2025

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 billion, 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.

Feb 12, 2026 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Financial Results (Feb 10, 2026)

AIG reported a strong close to 2025, with full-year adjusted after-tax income (AATI) of $4.04 billion, or $7.09 per diluted share, up 43% from $4.95 a year earlier. GAAP net income was $3.10 billion, or $5.43 per diluted share, versus a net loss of $1.43 billion ($2.17 per share) in 2024, which was distorted by the Corebridge deconsolidation. Core Operating ROE was 11.1% for the year, above management's 10%-plus target. General Insurance was the main driver: underwriting income rose 22% to $2.3 billion, and the full-year combined ratio improved to 90.1% from 91.8%. The accident year combined ratio, as adjusted, was 88.3%, roughly flat versus 88.2%, which suggests the improvement was largely driven by lower catastrophe losses and favorable prior year development rather than underlying margin expansion. Capital return was substantial. AIG returned $6.8 billion to shareholders in 2025, including $5.8 billion of buybacks (about 73 million shares) and roughly $1.0 billion of dividends, and the Board declared a quarterly dividend of $0.45 per share payable March 30, 2026. Book value per share rose to $76.44 and adjusted tangible book value per share to $70.37. Common shares outstanding fell to 538.2 million from 606.1 million a year earlier, a reduction of roughly 11%, which flatters per-share comparisons. Debt-to-total-capital ended the year at 18.0%. Management also pointed to 2026 initiatives, including the Syndicate 2479 formation with Blackstone and Amwins, a CVC secondaries investment, and completed minority-stake buyouts in Convex and Onex, and said it is on track to meet or exceed its Investor Day targets. Several items warrant investor attention. Global Personal net premiums written fell 12% on a reported basis (3% comparable), reflecting a reinsurance restructuring in U.S. High Net Worth and a decline in Warranty. Fourth-quarter net investment income fell 34% year over year on lower Corebridge-related gains, and GAAP results remain sensitive to the mark-to-market on AIG's remaining Corebridge stake, which was reduced to 10.1%. Forward-looking statements flag catastrophe exposure, reserve adequacy, and strategic transaction execution risk.

Feb 10, 2026 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Executive Changes (Jan 6, 2026)

On January 6, 2026, AIG announced a planned leadership transition. Chairman and CEO Peter Zaffino intends to step down as CEO by mid-2026 and become Executive Chair. Eric Andersen, a former President of Aon plc, joins AIG as President and CEO-Elect effective February 16, 2026, reporting to Zaffino, and is expected to succeed him as CEO and join the Board after June 1, 2026. The Board describes this as the outcome of a multi-year succession planning process conducted from a position of strength, following the company's turnaround under Zaffino, which the company credits with five consecutive years of underwriting profitability from 2021 to 2025. For investors, the filing is primarily a governance and continuity event rather than a financial one. The 8-K contains no new financial results, guidance, or capital actions. The main economic disclosures concern compensation. Zaffino's target direct compensation is $25 million for 2026, falling to $15 million as Executive Chair, and his amended employment agreement no longer expires and confirms that the role change is not Good Reason for termination. Andersen's initial target direct compensation is $14 million, rising to $18 million as CEO, and includes a one-time $12.5 million RSU award that vests fully on the third anniversary of grant, intended to offset forfeited awards from Aon. Both arrangements are subject to clawback policies. The key points to monitor are execution risk during the handover, whether Andersen's strategy and underwriting discipline match the company's track record, and the final terms once the full agreements are filed with the Q1 2026 Form 10-Q. The filing says the full documents will be filed as exhibits to that report, so the detailed terms are not yet public in full.

Jan 6, 2026 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Bylaw Amendment (Dec 15, 2025)

American International Group, Inc. (AIG) has filed an 8-K report detailing amendments to its By-Laws, effective December 10, 2025. These updates, stemming from the Board's annual review, primarily align the company's governance documents with recent changes in Delaware law and introduce clarifying, ministerial, and other procedural modifications. The amendments focus on enhancing the Board's authority and control over shareholder meetings and director nominations, as well as refining the process for special shareholder meetings and director elections. Key changes empower the Board with greater discretion regarding shareholder meeting procedures, director numbers, and the eligibility of registered stockholders to propose matters. Furthermore, the amendments introduce specific conditions under which shareholder requests for special meetings may be declined, aiming to prevent potential disruptions or duplicative actions. These changes are important for investors to understand as they impact shareholder rights and corporate governance processes at AIG.

Dec 15, 2025 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Corporate Update (Nov 21, 2025)

American International Group, Inc. (AIG) has filed an 8-K detailing the finalization of an agreement concerning John Neal. The report confirms the mutual decision for Mr. Neal not to join the company. This filing provides clarity on the matter, bringing closure to previous disclosures regarding his potential employment.

Nov 21, 2025 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Executive Changes (Nov 14, 2025)

American International Group, Inc. (AIG) announced a significant leadership change via an 8-K filing on November 14, 2025. The company has mutually agreed with John Neal that he will not be joining AIG as President, a role he was scheduled to assume on December 1, 2025. This decision stems from personal circumstances, and Mr. Neal will not assume the presidency as planned. In light of this development, AIG Chairman & CEO Peter Zaffino will continue to oversee the company's organizational structure and strategic direction. Investors should monitor any subsequent announcements regarding AIG's leadership and organizational plans as Mr. Zaffino works with the Board to ensure continued performance and stakeholder value.

Nov 14, 2025 10-Q

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

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.

Nov 5, 2025 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Financial Results (Nov 4, 2025)

AIG reported a strong third quarter 2025 with net income attributable to common shareholders of $519 million, or $0.93 per diluted share, up 31% year-over-year. The more important headline metric is adjusted after-tax income (AATI) of $1.2 billion, or $2.20 per diluted share, up 77%. Growth was driven by General Insurance, where underwriting income rose 81% to $793 million and the combined ratio improved 580 basis points to 86.8%, mainly due to lower catastrophe losses, more favorable prior-year development, and lower acquisition expenses. The accident year combined ratio, as adjusted, was flat at 88.3%, so the underlying improvement is smaller than the headline figure suggests. Net investment income fell 21% on a reported basis to $772 million because of mark-to-market changes on the Corebridge stake, but rose 15% to $1.0 billion on an APTI basis. Capital management remained a major focus. AIG returned about $1.5 billion to shareholders in the quarter, including roughly $1.25 billion of buybacks (about 16 million shares) and $250 million of dividends, bringing year-to-date returns to $6 billion. Diluted weighted average shares fell to 558.5 million from 647.4 million a year earlier, which materially inflates per-share growth. The company also reduced its Corebridge ownership to 15.5% through share sales of about $1 billion. The board declared a quarterly dividend of $0.45 per share, payable December 30, 2025. Reported ROE was 5.0%, while Core Operating ROE rose to 13.6%. Management also highlighted two post-quarter strategic transactions: investments in Convex Group and Onex Corporation, and agreements to acquire renewal rights to a majority of Everest Group's global retail commercial portfolios, representing about $2 billion of annual premium. Management expects these to be earnings, EPS, and ROE accretive. Investors should weigh the strong quarter against the flat accident-year ratio, the declining reported net premiums written (down 2%), and execution risk on the new transactions. Relevant risks in the filing include catastrophe exposure, reserve development, equity concentration in Corebridge, and real estate fund impairments.

Nov 4, 2025 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Executive Changes (Oct 3, 2025)

This 8-K filing from American International Group, Inc. (AIG) announces a change in its Board of Directors composition and a subsequent appointment within a subsidiary. Paola Bergamaschi will resign from the AIG Board of Directors effective October 15, 2025. While this represents a departure from the main board, Ms. Bergamaschi will transition to a new role within the company's structure.

Oct 3, 2025 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Executive Changes (Aug 18, 2025)

American International Group, Inc. (AIG) has filed an 8-K report announcing a significant executive transition. Claude Wade, Executive Vice President, Chief Digital Officer and Global Head of Business Operations & Claims, will be stepping down from his current operational roles effective December 31, 2025, due to ongoing health issues. This departure marks the end of Mr. Wade's active leadership in these critical technology and operations functions. While Mr. Wade will no longer hold his executive officer positions, he is expected to remain with the company in an advisory capacity after his transition. This ensures that AIG can continue to leverage his expertise in a less demanding capacity during this period. Investors will be keen to understand the strategic implications of this leadership change, particularly concerning AIG's digital transformation and business operations initiatives, and who will assume Mr. Wade's responsibilities.

Aug 18, 2025 10-Q

AMERICAN INTERNATIONAL GROUP, INC. Quarterly Report for Q2 Ended Jun 30, 2025

American International Group, Inc. (AIG) reported a significant increase in net income attributable to common shareholders for the second quarter of 2025, reaching $1.144 billion, a substantial improvement from a net loss of $3.977 billion in the same period last year. This turnaround was largely driven by the deconsolidation of Corebridge, which resulted in a significant positive impact on earnings from discontinued operations, and a substantial increase in net investment income, particularly from AIG's investment in Corebridge. General Insurance segments demonstrated resilience, with underwriting income showing a solid increase, supported by favorable prior year reserve development and lower catastrophe losses, although the accident year loss ratio saw some pressure due to changes in business mix. Financially, total assets grew to $165.971 billion, while total liabilities increased to $124.442 billion. AIG shareholders' equity stood at $41.501 billion. The company also actively managed its capital structure by repurchasing $4.0 billion of its common stock during the first six months of 2025 and issuing new debt totaling $1.25 billion. The company's liquidity position remains strong, supported by its credit facilities and strong cash flows from operations.

Aug 7, 2025 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Financial Results (Aug 6, 2025)

AIG reported a strong second quarter 2025, with net income of $1.1 billion, or $1.98 per diluted share, compared with a net loss of $4.0 billion, or $5.96 per diluted share, a year earlier. The year-over-year swing is largely attributable to the prior-year $6.67 per diluted share loss from the June 2024 deconsolidation of Corebridge Financial. Adjusted after-tax income (AATI), the company's primary operating measure, rose 56% to $1.81 per diluted share ($1.0 billion), supported by higher General Insurance underwriting income and improved Other Operations results. General Insurance delivered a 89.3% combined ratio, down 3.2 points, and underwriting income of $626 million, up 46%. Catastrophe charges fell to $170 million (2.9 loss ratio points) from $330 million a year earlier. However, the accident year combined ratio, as adjusted, rose to 88.4% from 87.6%, and net premiums written declined 1% on a reported basis (up 1% on a comparable basis). Global Personal premiums contracted 3% on a comparable basis, largely due to a six-point drag from High Net Worth reinsurance restructuring, which management says improved profitability. Capital returns were substantial: AIG returned $2.0 billion in the quarter, including $1.8 billion of buybacks (about 21 million shares) and $254 million of dividends. Common shares outstanding fell to 559.8 million from 649.8 million a year earlier, and the Board declared a $0.45 quarterly dividend payable September 30, 2025. Debt-to-total-capital was 17.9%, parent liquidity was $4.8 billion, and Moody's and S&P upgraded the financial strength ratings of key insurance subsidiaries during the quarter.

Aug 6, 2025 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Executive Changes (Jul 21, 2025)

On July 16, 2025, American International Group (AIG) announced the appointment of John Neal as President, effective December 1, 2025. Neal will report to Chairman and CEO Peter Zaffino and lead AIG's General Insurance organization, covering North America Commercial Insurance, International Commercial Insurance, and Global Personal Insurance. He will also join the Executive Leadership team. Neal previously served as CEO of Lloyd's of London from October 2018 to January 2025, where he is credited with a successful turnaround, and earlier held senior roles at QBE, including Group CEO. The Compensation and Management Resources Committee approved a package with a $1,250,000 base salary, a $3,750,000 target annual cash bonus under the AIG Short-Term Incentive Plan (guaranteed at no less than target for the 2025 performance year), and a $5,000,000 target annual equity award under the AIG 2021 Omnibus Incentive Plan. On his start date, Neal will also receive $4,500,000 in restricted stock units vesting ratably over three years, plus a $2,700,000 cash payment. The filing states there are no arrangements pursuant to which he was appointed and no related-party transactions. For investors, the appointment signals a senior leadership addition focused on General Insurance and underwriting discipline, a core focus of the company's strategy. The filing itself contains no financial results or guidance, so the near-term financial impact is not quantified. The most notable item is the sizable compensation package, including a guaranteed bonus for 2025, which investors may monitor relative to the executive's performance once he assumes the role.

Jul 21, 2025 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Corporate Update (Jun 9, 2025)

On June 9, 2025, AIG reported the final results of its cash tender offers for ten series of its outstanding notes and disclosed that it had upsized the maximum purchase amount from $300 million to $455 million. Holders validly tendered $475.9 million aggregate principal (excluding $2.7 million tendered under guaranteed delivery procedures). AIG accepted $457.1 million of principal, satisfying the Maximum Purchase Condition for Acceptance Priority Levels 1 through 8. Notes at Priority Levels 9 and 10 (the 4.700% Notes due 2035 and the 4.375% Notes due 2055) were not accepted and will be returned to tendering holders. The bulk of the accepted principal was concentrated in the 5.750% Series A-9 Junior Subordinated Debentures due 2048 ($121.1 million), the 4.800% Notes due 2045 ($107.6 million), and the 4.200% Notes due 2028 ($140.2 million). Holders receive the stated Total Consideration per $1,000 principal (ranging from $743.65 to $1,137.94) in cash, plus accrued coupon interest. Settlement is expected June 10, 2025 for the initial settlement and June 12, 2025 for guaranteed delivery tenders. Interest stops accruing on the initial settlement date. For investors, the transaction is a liability management exercise that retires a modest portion of AIG's outstanding debt, roughly $457 million out of the approximately $2.3 billion of notes covered by the offers. The filing does not disclose any impact on AIG's operating results, capital position, or guidance, and the amounts are small relative to the company's overall balance sheet. The upsizing indicates solid investor participation at the offered prices.

Jun 9, 2025 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Corporate Update (Jun 2, 2025)

On June 2, 2025, American International Group (AIG) announced cash tender offers for 10 series of its outstanding notes, with an aggregate maximum purchase amount of $300 million of Total Consideration (excluding accrued coupon payments). The offers cover a mix of junior subordinated debentures (including the 5.750% Series A-9 due 2048 and 8.175% Series A-6 due 2058) and senior notes maturing between 2028 and 2055. This is a liability management action: AIG is offering to repurchase its own debt, typically to reduce interest expense, smooth the maturity profile, or optimize its capital structure, and the filing itself does not indicate the specific rationale beyond standard market practice. The tender prices are set by a fixed spread (ranging from 40 to 210 basis points) over the yield of a specified Treasury reference security, measured at 10:00 a.m. ET on June 6, 2025. Acceptance is governed by a priority ladder, with Series A-9 and A-6 junior subordinated debentures given the highest priority (levels 1 and 2). No series is subject to proration, and AIG reserves the right to terminate, alter, or waive the maximum purchase condition at its discretion. Key dates include an expiration and withdrawal deadline of June 6, 2025, an expected initial settlement on June 10, 2025, and a guaranteed delivery settlement on June 12, 2025. For investors, the principal relevance is that the $300 million cap is modest relative to AIG's overall debt, so the transaction is unlikely to be financially material at the enterprise level. Holders of the targeted notes should weigh the tender consideration against the market value of their securities and the risk of partial acceptance by priority level. The filing contains no information on AIG's financial results, earnings, or guidance, so it should be read as a debt-management event rather than a change in operating performance.

Jun 2, 2025 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Shareholder Vote Results (May 16, 2025)

This 8-K filing reports on the outcomes of American International Group, Inc.'s (AIG) Annual Meeting of Shareholders held on May 14, 2025. The primary focus for investors is the shareholder approval of director elections, executive compensation, and the ratification of the independent auditor. All director nominees were overwhelmingly elected, indicating strong shareholder confidence in the current board leadership. Shareholders also provided an advisory vote on executive compensation ('Say-on-Pay') and the frequency of such votes. The filing details that AIG will continue to hold annual 'Say-on-Pay' votes based on the strong shareholder preference for an annual vote, a decision that will be reevaluated by the Board at or prior to the 2031 Annual Meeting. Furthermore, the appointment of PricewaterhouseCoopers LLP as AIG's independent auditor for 2025 was ratified with substantial support, reinforcing the company's commitment to transparent financial reporting and oversight.

May 16, 2025 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Corporate Update (May 15, 2025)

On May 15, 2025, American International Group, Inc. (NYSE: AIG) disclosed in a Form 8-K (Item 8.01, Other Events) that it will redeem all of its outstanding 3.900% Notes due 2026 on June 26, 2025 (the "Redemption Date"). Holders will receive the principal amount, accrued and unpaid interest, and a customary make-whole premium calculated under the governing indenture. As of May 15, 2025, $236,160,000 aggregate principal amount of the Notes remained outstanding. The redemption is a routine capital-structure action. The amount involved is modest relative to AIG's balance sheet, and the filing does not mention the source of funds, a new issuance, or any change to guidance, earnings, capital ratios, or credit ratings. The make-whole premium means the cash cost to AIG will exceed the principal amount, though the filing does not quantify it. Retiring the notes before their 2026 maturity reduces AIG's outstanding debt and future interest expense on this tranche. For investors, the filing is low-impact. It is a debt-management event rather than a change in operations or strategy. The filing expressly states it is not a formal notice of redemption; that notice is delivered to holders by The Bank of New York Mellon, the trustee. Holders and anyone trading the notes should rely on that notice for exact terms, including the make-whole calculation and payment mechanics.

May 15, 2025 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Corporate Update (May 7, 2025)

American International Group, Inc. (AIG) has announced the successful closing of a significant debt offering. The company issued $625 million in 4.850% Notes due 2030 and $625 million in 5.450% Notes due 2035, totaling $1.25 billion in aggregate principal amount. This action demonstrates AIG's ongoing access to capital markets and its strategy to manage its debt structure. Investors should note that these new notes represent a substantial financing event for AIG. The differing interest rates and maturity dates suggest a diversified approach to its debt obligations, potentially to manage interest rate risk or align with specific funding needs. The filing also lists several key documents related to this issuance, including the underwriting agreement and supplemental indentures, which provide further details on the terms and conditions of these new notes.

May 7, 2025 10-Q

AMERICAN INTERNATIONAL GROUP, INC. Quarterly Report for Q1 Ended Mar 31, 2025

AMERICAN INTERNATIONAL GROUP, INC. (AIG) reported its first quarter 2025 financial results, showing a net income attributable to AIG common shareholders of $698 million, a decrease from $1.2 billion in the prior year period. This decline was primarily driven by the deconsolidation of Corebridge and higher catastrophe losses in the General Insurance segment. Despite the year-over-year decrease in net income, the company highlighted an increase in net investment income by 13% to $1.1 billion, benefiting from higher Corebridge equity method income and improved yields on new investments. Total assets remained relatively stable at $161.9 billion. The company continued its capital return program, repurchasing approximately $2.2 billion of common stock during the quarter, and announced a 12.5% increase in its quarterly dividend to $0.45 per share. AIG's investment portfolio saw a shift towards higher yields, with blended investment yields on new investments exceeding those on sold or matured investments. The company's financial strength remains robust, supported by strong liquidity and capital resources.

May 2, 2025 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Financial Results (May 1, 2025)

AIG reported first quarter 2025 results on May 1, 2025, with a mixed picture: strong top-line growth and capital returns offset by a sharp rise in catastrophe losses. Net premiums written (NPW) were $4.5 billion, flat on a reported basis but up 8% on a comparable basis (adjusting for the 2024 sale of the Travel business and FX). Global Commercial NPW grew 10% on a comparable basis, with North America Commercial up 14% and International Commercial up 8%. General Insurance's accident year combined ratio, as adjusted, improved to 87.8%, described as the best first-quarter result since the financial crisis, but the reported General Insurance combined ratio rose to 95.8% from 89.8%, driven by $525 million of catastrophe-related charges including $460 million from the January California wildfires. Earnings declined year over year. Net income attributable to AIG common shareholders was $698 million, or $1.16 per diluted share, versus $1.74 a year earlier, which included Corebridge-related income that is no longer recognized after deconsolidation. Adjusted after-tax income per diluted share fell to $1.17 from $1.25. Return on equity was 6.7%, and core operating ROE was 7.7%. Book value per share rose to $71.38, while adjusted tangible book value per share was flat at $67.96. Capital management was a clear focus. AIG returned about $2.5 billion to shareholders in the quarter, including $2.2 billion of buybacks (about 29 million shares) and $234 million of dividends. The Board raised the quarterly dividend 12.5% to $0.45 per share, payable June 27, 2025. Management reiterated its expectation of 10%+ full-year 2025 core operating ROE and its three-year targets from the March 31 Investor Day. Debt-to-total-capital was 17.1% and parent liquidity was $4.9 billion.

May 1, 2025 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Regulation FD Disclosure (Mar 31, 2025)

On March 31, 2025, AIG filed an 8-K furnishing slides from its 2025 Investor Day, which laid out multi-year targets for 2025-2027: operating EPS CAGR of 20%+, core operating ROE of 10%-13%, a General Insurance expense ratio below 30%, and dividends per share CAGR of 10%+ for 2025-2026. Management framed the company as having completed a turnaround, citing a General Insurance calendar-year combined ratio improvement of roughly 28 points since 2017 (from 121% in 2017 to 93% in 2024 on the presented basis), reduced catastrophe volatility, a lower severe-loss ratio, and a reinsurance program that sharply cut retained exposure. The presentation also highlighted $1 billion in run-rate expense savings, a lean parent company expense base of about $350 million, and deployment of GenAI in underwriting, which management says can accelerate the underwriting process 2x to 5x. The most actionable capital item is a Board authorization, dated March 29, 2025 and effective April 1, 2025, to repurchase up to $7.5 billion of common stock, inclusive of roughly $3.4 billion remaining under the prior program. Management's capital slides point to roughly $5 to $6 billion of share repurchases in 2025 funded from deployable capital, with a 2024 leverage ratio of 17.0% and $7.7 billion of parent liquidity. The company reported 2024 core operating ROE of 9.1%, GAAP net loss attributable to common shareholders of $(1.4) billion, and adjusted after-tax income of $3.25 billion, which investors should weigh against the aggressive forward targets. Investors should note that the filing is furnished rather than filed under Section 18, and that the forward-looking targets are management estimates subject to catastrophe losses, reserve development, and macroeconomic conditions. Key risks flagged include reliance on Corebridge equity exposure, long-tail casualty reserve adequacy (where AIG's current accident-year loss ratios have run well above industry averages), and execution risk on the expense and technology programs.

Mar 31, 2025 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Executive Changes (Feb 20, 2025)

On February 20, 2025, American International Group (AIG) filed a Form 8-K reporting that its Board of Directors appointed Juan Perez as a new independent director, effective immediately, on February 19, 2025. The Board increased its size from 11 to 12 seats to accommodate the appointment. Mr. Perez has not yet been assigned to a board committee, and he will receive compensation under the independent director program described in AIG's 2024 proxy statement. The filing states there are no arrangements or family relationships tied to his appointment. The filing is a governance event rather than a financial one. It contains no earnings, balance sheet, guidance, or operating results, so it has no direct near-term impact on AIG's financial performance. Investors should read it mainly as a signal of board composition and strategic priorities. Mr. Perez is currently Executive Vice President and Chief Information Officer at Salesforce, previously served as CIO and Engineering Officer at UPS, and brings more than 30 years of technology leadership experience with a focus on AI, data strategy, and digital transformation. The accompanying press release, filed as Exhibit 99.1, cites AIG's underwriting profitability and its GenAI and large language model initiatives as reasons for the appointment. For shareholders, the key takeaway is that AIG is adding technology and AI expertise at the board level as it pursues its digital and data strategy. Whether this translates into measurable operating benefits, such as underwriting efficiency or claims automation, will depend on future disclosures and committee assignments, which have not yet been determined.

Feb 20, 2025 10-K

AMERICAN INTERNATIONAL GROUP, INC. Annual Report, Year Ended Dec 31, 2024

American International Group, Inc. (AIG) demonstrated a resilient financial performance in 2024, marked by strong underwriting results and strategic portfolio management. The company achieved a combined ratio of 91.8 and an adjusted accident year combined ratio of 88.2, contributing to $1.9 billion in underwriting income and over $7 billion cumulatively from 2021-2024. Net premiums written reached $23.9 billion, supported by growth, retention, and disciplined pricing. AIG made significant progress in completing multi-year strategic initiatives, notably the deconsolidation of Corebridge Financial, Inc., reducing AIG's ownership to 22.7% for $6.0 billion in proceeds. The company also divested its global individual personal travel insurance and assistance business for $600 million, further enhancing financial flexibility. AIG continued its balanced capital management by reducing general borrowings by $1.6 billion, lowering its debt-to-capital ratio to 17.0%, repurchasing $6.6 billion of its own stock, and increasing common stock dividends. These actions underscore AIG's focus on profitable growth, operational efficiency, and shareholder returns while maintaining a strong balance sheet.

Feb 13, 2025 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Financial Results (Feb 11, 2025)

AIG reported fourth quarter and full year 2024 results on February 11, 2025, with the headline story being a sharp swing to a full-year GAAP net loss of $1.4 billion (-$2.17 per diluted share) versus $3.6 billion of net income in 2023. The decline is driven by accounting from the deconsolidation of Corebridge Financial, which moved AIG's historical Corebridge results into discontinued operations and changed how its retained stake is measured. Management is steering investors toward adjusted after-tax income (AATI), which rose 12% to $4.95 per diluted share for the year (28% on a comparable basis), and to Q4 AATI of $1.30 per diluted share, up 2%. Underlying operations were solid. General Insurance net premiums written were $23.9 billion for the year, down 11% as reported due to divestitures but up 6% on a comparable basis, with Global Commercial growing 7%. The full-year combined ratio was 91.8% and the accident-year combined ratio, as adjusted, was 88.2%, both still good for a property-and-casualty insurer. Fourth-quarter results were weighed down by catastrophe losses from Hurricane Milton and Hurricane Helene, and AIG estimated its net loss from the California wildfires at about $500 million before reinstatement premiums. Capital management was active: AIG returned $8.1 billion to shareholders in 2024, including $6.6 billion of buybacks, reduced debt by $1.6 billion, and ended the year with a 17.0% debt-to-total-capital ratio and $7.7 billion of parent liquidity. Looking ahead, management said it is well on track to deliver a core operating return on equity of 10% or more for 2025 and noted that the new Lloyd's reinsurance Syndicate 2478, launched with Blackstone, began underwriting January 1, 2025. The board declared a quarterly dividend of $0.40 per share, payable March 31, 2025 to holders of record on March 17, 2025. Investors should weigh the strong operating momentum against the sizable catastrophe exposure and the continuing volatility in reported GAAP earnings tied to the remaining Corebridge stake.

Feb 11, 2025 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Corporate Update (Dec 13, 2024)

On December 12-13, 2024, American International Group (AIG) reported the pricing and results of its 12 cash tender offers for outstanding notes and junior subordinated debentures. Holders tendered about $2.02 billion of principal, well above the original $750 million cap. AIG raised the maximum purchase amount to $1.16 billion and accepted $1.134 billion of principal across eight series, excluding $19.3 million of notes tendered under guaranteed delivery procedures. Accepting that additional amount would bring the total to roughly $1.15 billion, still under the increased cap. Holders of the accepted notes receive the applicable Total Consideration plus accrued interest, with settlement expected December 16, 2024 (guaranteed delivery settlement December 18, 2024). The most heavily accepted series were the 4.800% Notes due 2045 ($313.2 million), the 5.750% Series A-9 Junior Subordinated Debentures due 2048 ($308.6 million), and the 6.250% Notes due 2036 ($299.1 million). The offers were priced off Treasury reference yields plus fixed spreads, with Total Consideration ranging from about $805.74 to $1,172.61 per $1,000 principal. Several high-coupon, longer-dated series, including the 4.750% Notes due 2048 and 4.500% Notes due 2044, were not accepted under the acceptance priority ordering. Holders of those series will have their notes returned. For investors, the transaction is a liability management exercise that retires a meaningful portion of AIG's higher-coupon debt and junior subordinated debentures, with the upsizing indicating stronger-than-expected participation. The filing does not disclose the funding source or the financial impact on AIG's leverage, interest expense, or capital position, so those details would need to be found in AIG's other filings or earnings materials.

Dec 13, 2024 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Corporate Update (Dec 6, 2024)

On December 6, 2024, American International Group (AIG) announced cash tender offers for 12 series of its outstanding notes and junior subordinated debentures, with a combined maximum purchase consideration of $750 million, excluding accrued coupon payments. The offers are a liability management action: AIG is offering to repurchase existing debt, which can reduce future interest expense and smooth the maturity profile. The filing itself is a routine Item 8.01 disclosure (other events) that attaches the press release and references the Offer to Purchase, which contains the full terms. The key mechanics are an acceptance priority structure (levels 1 through 12), a Total Consideration calculated as a fixed spread over a specified U.S. Treasury yield, and a maximum purchase condition. Series are accepted in priority order subject to the $750 million cap, and no series will be prorated, so holders either have their full tendered amount accepted or not. AIG may increase, waive, or terminate the offers at its discretion. Prices will be set at 10:00 a.m. Eastern on December 12, 2024, the offers expire at 5:00 p.m. Eastern that day, and initial settlement is expected on December 16, 2024. For investors, the filing signals that AIG has capacity and intent to manage its debt stack, but it does not disclose the financial rationale, the expected amount of debt retired, or any effect on earnings or leverage. Accepted tenders will reduce outstanding principal, and the impact will depend on which series are actually purchased and at what prices. Investors should treat this as a capital structure update rather than a change in operating performance.

Dec 6, 2024 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Corporate Update (Nov 27, 2024)

American International Group, Inc. (AIG) announced on November 27, 2024, the successful closing of a significant debt offering. The company issued ¥77,100,000,000 in 1.580% Notes Due 2028, ¥10,300,000,000 in 1.757% Notes Due 2029, and ¥12,600,000,000 in 2.137% Notes Due 2034. This issuance represents a strategic move by AIG to bolster its capital structure and potentially fund future operations or refinance existing debt. Investors should note the specific maturity dates and coupon rates associated with these notes, which offer a fixed income stream. The offering was facilitated through an Underwriting Agreement with several reputable financial institutions, including Mizuho Securities USA LLC, Morgan Stanley & Co. International plc, and SMBC Nikko Securities America, Inc. The filing also includes supplemental indentures and legal opinions confirming the validity of these notes, providing transparency and assurance to stakeholders regarding the terms and legal standing of this new debt.

Nov 27, 2024 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K/A Report, Executive Changes (Nov 8, 2024)

This 8-K filing from American International Group (AIG) serves as an amendment to a previous filing regarding the appointment of Keith Walsh as Executive Vice President and Chief Financial Officer. The amendment clarifies the effective date of Mr. Walsh's appointment. While he commenced employment with AIG on October 21, 2024, his formal appointment to the Executive Vice President and Chief Financial Officer role is now officially effective as of November 8, 2024. Investors should note that this filing does not introduce new strategic changes or financial results but rather corrects and clarifies the effective date of a previously announced executive appointment. This ensures accurate record-keeping and transparency regarding AIG's senior leadership.

Nov 8, 2024 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Executive Changes (Nov 8, 2024)

On November 5, 2024, AIG's Board of Directors appointed Courtney Leimkuhler as an independent director, effective immediately, and increased the Board from 10 to 11 seats to accommodate her. The Board determined she meets NYSE independence standards. She has not yet been assigned to a committee and will receive the standard independent director compensation described in AIG's 2024 proxy statement. The appointment is a governance event with limited direct financial impact on AIG's operations or results. The filing's most notable element is a related-party disclosure. In 2022, an AIG subsidiary committed $3 million to Spring B Fund I LP, a venture capital fund. Approximately $1.2 million has been drawn to date. Ms. Leimkuhler holds a controlling interest in the fund's management company and general partner. AIG pays an annual management fee of 2.5% of its commitment, and the fund pays a 20% carried interest to the general partner. Based on the $3 million commitment, the management fee is roughly $75,000 per year. The filing does not state whether the Board's audit or related-person transaction review process approved this arrangement, which investors may want to confirm in future proxy disclosures. Investors should view this as a routine board refresh with a modest, disclosed conflict of interest. The venture investment is small relative to AIG's size, and the press release emphasizes Ms. Leimkuhler's experience in capital markets, risk management, data, and technology. Her committee assignments, and how the Board manages her fund ties, will be the items to watch.

Nov 8, 2024 10-Q

AMERICAN INTERNATIONAL GROUP, INC. Quarterly Report for Q3 Ended Sep 30, 2024

American International Group, Inc. (AIG) reported a net income attributable to common shareholders of $459 million, or $0.71 per diluted share, for the third quarter of 2024. This represents a significant decrease compared to the $2.02 billion, or $2.81 per diluted share, reported in the same period of the prior year. The decline is largely attributed to a substantial reduction in income from discontinued operations, primarily due to the deconsolidation of Corebridge in the prior year, which positively impacted that period's results. On a continuing operations basis, AIG's income from continuing operations was $481 million, or $0.74 per diluted share, down from $701 million, or $0.97 per diluted share, in Q3 2023. This decrease was driven by lower underwriting income in the General Insurance segment, particularly in North America, impacted by prior year loss reserve development and the sale of AIG Re. However, net investment income saw a notable increase of 14% to $973 million, driven by higher dividends from Corebridge, improved equity security valuations, and favorable interest rate environments impacting fair-valued securities. The company also continued its share repurchase program, repurchasing approximately $4.8 billion of common stock year-to-date.

Nov 7, 2024 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Financial Results (Nov 4, 2024)

AIG reported third quarter 2024 results on November 4, 2024, led by a strong operating picture and substantial capital return. Adjusted after-tax income (AATI) per diluted share rose 18% year-over-year to $1.23 (up 31% on a comparable basis excluding the 2023 Validus Re sale), while GAAP net income per diluted share fell to $0.71 from $2.81. The GAAP decline is primarily due to the prior-year inclusion of Corebridge results as discontinued operations and the accounting change following AIG's deconsolidation of Corebridge in June 2024, not a deterioration in the core business. Adjusted book value per share was $73.90, and book value per share was $71.46. General Insurance net premiums written were $6.4 billion, down 1% as reported but up 6% on a comparable basis, led by 7% growth in Global Commercial Lines and 11% growth in North America Commercial Lines. New business in Global Commercial Lines reached $1.1 billion, up 9%, with retention of 88%. Underwriting profitability was solid but softened: the combined ratio rose to 92.6% from 90.2% on a comparable basis, driven by $417 million of catastrophe charges (6.9 loss ratio points), while the accident year combined ratio, as adjusted, was 88.3%, up from 86.9%. Favorable prior-year development of $165 million partly offset the cat load. AIG returned approximately $1.8 billion to shareholders in the quarter ($1.5 billion of buybacks, roughly 20 million shares, and $254 million of dividends), and over $6 billion year-to-date. The board declared a quarterly dividend of $0.40 per share, payable December 30, 2024 to holders of record on December 16, 2024. Parent liquidity stood at $4.2 billion and the total debt-to-capital ratio was 17.9%. Other Operations improved by $135 million, helped by $125 million of net investment income including Corebridge dividends and by lower operating and interest expenses.

Nov 4, 2024 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Corporate Update (Oct 21, 2024)

On October 21, 2024, American International Group, Inc. (NYSE: AIG) announced that it will redeem all of its outstanding Zero Coupon Callable Notes Due 2047 (ISIN XS1684198648) on November 22, 2024 (the Redemption Date). Holders will receive 135.631% of the face amount outstanding on that date. As of October 21, 2024, $400 million in face amount was outstanding, which implies a total cash redemption payment of roughly $542.5 million, before any changes in the outstanding amount before the Redemption Date. The redemption is a routine capital-management action for the holders of this specific debt instrument. The filing does not state the reason for the redemption, its effect on AIG's debt load or interest expense, or any accounting impact, such as a gain or loss on extinguishment. Those items would typically appear in AIG's subsequent periodic reports. The 135.631% redemption price is well above par, which reflects the accreted value of a zero-coupon instrument that has been outstanding for years, so holders receive a substantial return on their original investment. This filing is an announcement only. It is not a formal notice of redemption. Holders must rely on the notice delivered by The Bank of New York Mellon, the trustee, for the operative terms and procedures. The disclosure carries no change to AIG's guidance or broader business outlook, and it is not expected to have a material effect on the company's overall financial position based on the information provided.

Oct 21, 2024 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K/A Report, Executive Changes (Oct 11, 2024)

This 8-K filing from AMERICAN INTERNATIONAL GROUP, INC. (AIG) is an amendment to a previous filing concerning the appointment of Keith Walsh as Executive Vice President and Chief Financial Officer. The amendment clarifies that while Mr. Walsh's employment commencement date remains October 21, 2024, his official appointment as CFO will be effective November 6, 2024. This is a slight delay from the original reporting, with Sabra Purtill continuing in the CFO role until the transition is complete. For investors, this amendment is primarily administrative and does not indicate any significant changes in AIG's financial strategy or leadership direction. The core information regarding the appointment of a new CFO remains, with a minor adjustment to the effective date. Investors should note that this change reflects a planned succession, and the continuity of leadership under Ms. Purtill until the transition date provides a smooth handover.

Oct 11, 2024 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Material Agreement (Sep 27, 2024)

AMERICAN INTERNATIONAL GROUP, INC. (AIG) announced on September 27, 2024, the execution of an Amended and Restated Credit Agreement. This new agreement significantly enhances AIG's financial flexibility by establishing a five-year total commitment of $3 billion. This facility can be utilized for standby letters of credit and/or revolving credit borrowings without restriction on the type of borrowings, providing a robust liquidity backstop for the company's general corporate purposes. The agreement also includes an accordion feature that allows for an expansion of commitments by up to an additional $1.5 billion, bringing the total potential commitment to $4.5 billion under certain circumstances.

Sep 27, 2024 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Executive Changes (Sep 18, 2024)

On September 18, 2024, American International Group (AIG) announced that Keith Walsh will become Executive Vice President and Chief Financial Officer effective October 21, 2024, succeeding Sabra Purtill. Walsh most recently served as CFO of Marsh, a subsidiary of Marsh & McLennan Companies, and previously led MMC's Investor Relations function (2012-2017) and spent 14 years as an insurance sector equity research analyst at Citi. He will report to Chairman and CEO Peter Zaffino, join the Executive Leadership Team, and lead AIG's global Finance organization from New York. The compensation package signals the company's priorities. Walsh receives a $1,000,000 base salary, a $1,500,000 target annual cash bonus under the AIG Short-Term Incentive Plan with a guaranteed minimum of target for the 2024 performance year, and a $2,500,000 target annual equity award. He also receives a $300,000 RSU grant vesting ratably over three years and a $2,750,000 RSU grant with staggered vesting, including $1,000,000 on the first anniversary and the remainder in February 2026 and February 2027. The RSU structure ties a significant portion of his sign-on value to multi-year retention. Sabra Purtill, who has served as CFO since January 2023, will remain with the company working on strategic projects and advising Walsh to ensure a smooth handover. The filing states she has no disagreements with the company or its auditor regarding financial statements, reserves, reporting, or disclosure controls. For investors, the change is a planned leadership transition at the finance function rather than a signal of a disclosed accounting or control dispute, though the company's own press release frames it as a continuation of its turnaround and growth agenda.

Sep 18, 2024 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Corporate Update (Sep 3, 2024)

On September 3, 2024, American International Group, Inc. (NYSE: AIG) announced it will redeem all outstanding Series A-3 Junior Subordinated Debentures (ISIN XS0291642154) on September 16, 2024. Holders will receive 100% of principal plus accrued and unpaid interest up to, but not including, the redemption date. As of the announcement date, €41,550,000 aggregate principal remained outstanding, so the redemption is modest in size relative to AIG's balance sheet. The filing is a routine capital-management action rather than a change in operating performance, strategy, or guidance. Redeeming junior subordinated debt at par is typically a sign that the issuer is retiring higher-cost or otherwise outstanding hybrid capital, and it does not by itself signal a change in AIG's financial condition. The 8-K contains no earnings data, no guidance changes, and no new financing terms. The filing explicitly states it is not the formal notice of redemption. Holders should rely on the notice delivered by The Bank of New York Mellon, the trustee. Investors should also note that the redemption cash outflow is small and that the full press release is incorporated by reference as Exhibit 99.1.

Sep 3, 2024 10-Q

AMERICAN INTERNATIONAL GROUP, INC. Quarterly Report for Q2 Ended Jun 30, 2024

American International Group, Inc. (AIG) reported a net loss attributable to common shareholders of $3,977 million, or $(6.02) per diluted share, for the second quarter of 2024. This loss was primarily driven by a significant loss from discontinued operations, largely due to the deconsolidation of Corebridge, which resulted in a $4.7 billion loss on disposition. Despite the net loss, the General Insurance segment demonstrated resilience, with underwriting income of $430 million and a combined ratio of 92.5% for the quarter. This performance was supported by strong net investment income of $990 million and continued pricing discipline and risk selection in Commercial Lines, although offset by lower favorable prior year reserve development and higher catastrophe losses. The company continues to manage its portfolio and execute strategic initiatives, including the announced sale of its global individual personal travel insurance and assistance business.

Aug 1, 2024 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Financial Results (Jul 31, 2024)

AIG reported second quarter 2024 results on July 31, 2024, dominated by the accounting effects of completing the deconsolidation of Corebridge Financial (effective June 9, 2024). Because of the deconsolidation, AIG recorded a $4.7 billion loss within discontinued operations, producing a GAAP net loss attributable to common shareholders of $4.0 billion, or $5.96 per diluted share, versus net income of $2.03 a year earlier. Investors should focus on the adjusted metrics: adjusted after-tax income (AATI) was $775 million, or $1.16 per diluted share, up 9% year-over-year (38% on a comparable basis excluding 2023 divestitures), and General Insurance's accident year combined ratio, as adjusted, improved 40 basis points to 87.6%. Reported General Insurance net premiums written fell 8% to $6.9 billion because of 2023 divestitures, but grew 7% on a comparable basis, led by 10% growth in North America Commercial Lines and record Commercial Lines new business of $1.3 billion. Capital return remained substantial. AIG returned almost $2.0 billion to shareholders in the quarter, including $1.7 billion of buybacks (about 22 million shares) and $261 million of dividends, and it executed nearly $5 billion of capital actions in the first half. Shares outstanding fell to 649.8 million from 717.5 million a year earlier. The company reported a total debt-to-capital ratio of 18.1% and parent liquidity of $5.3 billion. Book value per share rose to $68.40, while adjusted book value per share declined to $72.78 as Investments AOCI shrank. The board declared a quarterly dividend of $0.40 per share, payable September 30, 2024. Going forward, the post-deconsolidation earnings profile will include Corebridge dividends in net investment income, with changes in Corebridge's stock price excluded from adjusted pre-tax income. The headline catastrophe loss ratio of 5.7 points and the mix shift in North America Commercial Lines, where the combined ratio rose to 90.2%, are the main operating watch items. GAAP volatility will persist as AIG's retained Corebridge stake is marked to market.

Jul 31, 2024 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Regulation FD Disclosure (Jun 25, 2024)

On June 25, 2024, AIG filed an 8-K under Regulation FD with recast financial information that removes Corebridge Financial (NYSE: CRBG) from its continuing operations. AIG held 48.4% of Corebridge's common stock as of the June 9, 2024 Deconsolidation Date. AIG deconsolidated Corebridge for accounting purposes after it waived its right to majority board representation and one of its board designees resigned. Corebridge's historical results for all periods are now reported as discontinued operations, and AIG will carry its retained stake as an equity method investment at fair value based on Corebridge's stock price. The change significantly reduces the size of AIG's reported continuing operations. For full-year 2023, recast adjusted pre-tax income is $4,290 million, compared with $7,401 million previously reported, and recast adjusted after-tax income per diluted share is $4.39, compared with $6.79 previously reported. Recast income from continuing operations was $2,741 million, while total net income attributable to AIG was $3,643 million, including $1,137 million from Corebridge discontinued operations. Going forward, AIG will no longer report a Life and Retirement segment or asset management within Other Operations. General Insurance results were not affected. Corebridge dividends and changes in its stock price will flow through net investment income under US GAAP, and adjusted pre-tax income will include Corebridge dividends while excluding stock price changes. For investors, the key takeaway is that AIG's future reported earnings will reflect a smaller, General Insurance-focused business plus a mark-to-market-free stake in Corebridge that contributes dividends rather than consolidated earnings. Comparisons with prior periods should use the recast figures. The financial information in this filing is unaudited and is not a complete set of financial statements. It is also furnished rather than filed, so it is not subject to Section 18 liability.

Jun 25, 2024 8-K

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Acquisition Completed (Jun 13, 2024)

On June 9, 2024, AIG waived its right to nominate a majority of the candidates on Corebridge Financial's board slates and, after a board designee resigned, lost its controlling interest in Corebridge. AIG deconsolidated Corebridge, its Life and Retirement holding company, and now holds a 48.4% retained stake. Historical Corebridge results will be presented as discontinued operations starting with the Q2 2024 Form 10-Q. AIG will account for the stake under the fair value option, treating it as an equity method investment valued at Corebridge's share price. Dividends and share price changes will flow through net investment income, so AIG's reported earnings will become more sensitive to Corebridge's market value. The filing's unaudited pro forma statements, prepared under Article 11 of Regulation S-X, show the scale of the change. As of March 31, 2024, pro forma total assets fall from $544.1 billion as reported to $168.3 billion, and pro forma total equity falls from $49.1 billion to $46.2 billion. Pro forma revenues for 2023 fall from $46.8 billion to $26.6 billion, largely because Corebridge's premiums and investment income are removed. Pro forma diluted EPS from continuing operations is $5.04 for 2023 versus $4.98 as reported, and $3.44 for Q1 2024 versus $1.74 as reported. These figures are illustrative and exclude the pending Nippon Life transaction. AIG has also announced a pending sale of about 20% of Corebridge's outstanding common stock (121,956,256 shares) to Nippon Life Insurance Company at $31.47 per share, for about $3.8 billion in cash. Closing is expected in Q1 2025 and depends on regulatory approvals. The May 30, 2024 sale of roughly 5% of Corebridge for $876 million is already reflected in the pro forma statements. The Nippon transaction is not, so the pro forma figures will change once it closes.

Jun 13, 2024