American International Group, Inc. Earnings Recaps
Q1 2026
May 4, 2026
The stock gained 3.7% following a first quarter report that showed clear upside in net premiums written growth and margin improvement, driven primarily by strong performance in Global Commercial and Personal Insurance segments, as well as favorable reinsurance terms.
Key takeaways
- General Insurance net premiums written increased 18% year-over-year on a constant dollar basis, led by Global Commercial Insurance (+21%) and Global Personal Insurance (+11%).
- Global Personal Insurance saw a 410 basis point improvement in its expense ratio and a 570 basis point improvement in its accident year combined ratio, bringing it down to 89.9%.
- Overall General Insurance combined ratio improved significantly, with accident year combined ratio at 86.6% and calendar year combined ratio at 87.3%, representing an 850 basis point improvement year-over-year.
- Adjusted after-tax income per diluted share rose 80% year-over-year to $2.11, with core operating ROE at 12.2%.
- Capital returned to shareholders totaled $760 million, including $519 million in share repurchases; quarterly dividend raised by 11% to $0.50 per share, signaling confidence in the firm’s outlook.
Q3 2025
Nov 5, 2025
AIG reported a strong third quarter for 2025, with significant increases in adjusted earnings per share and underwriting income, driven by strategic investments and solid performance across its commercial segments.
Key takeaways
- Adjusted after-tax income per diluted share increased 77% year-over-year to $2.20, with adjusted after-tax income reaching $1.2 billion.
- Underwriting income rose 81% year-over-year to $793 million, fueled by successful general insurance operations and continued low combined ratios.
- Net premiums written in North America Commercial Insurance remained flat year-over-year but showed signs of growth when adjusted for prior year transactions; international segments exhibited better performance with strong contributions from Marine and Specialty lines.
- AIG announced strategic investments involving Convex Group, Onex Corporation, and Everest Group, projected to be earnings, EPS, and ROE accretive within the first year post-closing.
- Over the last three years, AIG returned $19 billion to shareholders through share repurchases and dividends, while maintaining a strong balance sheet and reducing debt by $4.5 billion.