American International Group, Inc. Q2 2026 Earnings Recap

Shares declined 1.5% following the quarter as investors appeared cautious despite steady growth, likely reflecting concerns over continued pricing pressure in North American property and the strategic contraction of the Lexington property portfolio, which dampened premium growth.

Key Takeaways

• Adjusted after-tax income per diluted share rose 10% year-over-year to $2.00, while adjusted after-tax income reached $1.1 billion.
• Underwriting income improved 10% from a year ago to $686 million, with accident year combined ratios improving to 88.1%.
• Net premiums written grew 9% overall, but North America Commercial property premium growth was negatively impacted by a 9 percentage point drop in Lexington retention amid ongoing pricing pressure.
• Strategic choice to selectively contract less profitable property segments weighed on growth by over 3 percentage points in North America.
• Capital returned totaled $904 million, with $641 million in share repurchases and $263 million in dividends.