XML 25 R12.htm IDEA: XBRL DOCUMENT
v3.25.2

Segment Information | 6 Months Ended
--- | ---
Jun. 30, 2025
Segment Reporting [Abstract] |
Segment Information | 3. Segment Information In the fourth quarter of 2024, the Company realigned its organizational structure and the composition of its reportable segments to reflect changes in how the Company manages its operations, specifically the level at which its chief operating decision makers (CODMs) regularly review operating results and allocate resources. Our CODMs are the chief executive officer (CEO) and chief financial officer (CFO). The CODMs evaluate performance of the segments based on underwriting income (loss). The CODMs use this measure to benchmark AIG’s performance, assessing performance of the segments and in establishing management’s compensation. AIG has three reportable segments: North America Commercial, International Commercial and Global Personal. Prior year's presentations have been recast to conform to the new reportable segments. Our General Insurance business (General Insurance) consists of our three segments and the Net investment income related to our insurance operations. NORTH AMERICA COMMERCIAL North America Commercial consists of insurance businesses in the United States, Canada and Bermuda. INTERNATIONAL COMMERCIAL International Commercial consists of insurance businesses in Japan, the United Kingdom, Europe, Middle East and Africa (EMEA region), Asia Pacific, Latin America and Caribbean, and China. International also includes the results of Talbot Underwriting Ltd. as well as AIG’s Global Specialty business. GLOBAL PERSONAL Global Personal consists primarily of insurance businesses in the United States as well as Japan, the United Kingdom, EMEA region, Asia Pacific, Latin America and Caribbean, and China. PRODUCTS The segments consist of the following products: –North America and International Commercial consists of Property & Short Tail, Casualty, Financial Lines and Global Specialty. –Global Personal consists of Global Accident & Health and Personal Lines. OTHER OPERATIONS Other Operations predominantly consists of Net Investment Income from our AIG Parent liquidity portfolio, Corebridge Financial, Inc. (Corebridge) dividend income, corporate General operating expenses, and Interest expense. SEGMENT RESULTS Management uses Underwriting income (loss) as the basis for the segment performance reviews. AIG calculates Underwriting income (loss) by subtracting Losses and loss adjustment expense incurred, Amortization of deferred policy acquisition costs (DAC), Other acquisition cost, and General operating expense from Net premiums earned. Assets by reportable segment are not used by the CODMs for purposes of making decisions about allocating resources to the segment and assessing its performance. The following table presents AIG’s continuing operations by segment:
Three Months Ended June 30, 2025
(in millions) | Net Premiums Written | Net Premiums Earned | Losses and Loss Adjustment Expenses Incurred(a) | Amortization of DAC(a) | Other Acquisition Expenses(a) | General Operating Expenses(a)(b) | Underwriting Income (Loss) | Net Investment Income | Reconciliation to Income (Loss) from Continuing Operations Before Income Tax Expense
North America Commercial | $ | 2,863 |  | $ | 2,133 |  | $ | 1,340 |  | $ | 206 |  | $ | 46 |  | $ | 240 |  | $ | 301 |  |  |
International Commercial | 2,325 |  | 2,124 |  | 1,170 |  | 269 |  | 84 |  | 301 |  | 300 |  |  |
Global Personal | 1,692 |  | 1,621 |  | 918 |  | 371 |  | 71 |  | 236 |  | 25 |  |  |
Total General Insurance | $ | 6,880 |  | $ | 5,878 |  | $ | 3,428 |  | $ | 846 |  | $ | 201 |  | $ | 777 |  | $ | 626 |  | $ | 871 |  | $ | 1,497 |
Interest expense |  |  |  |  |  |  |  | — |  | (101) |
Other Operations |  |  |  |  |  |  |  | 88 |  | (3) |
Elimination and consolidations |  |  |  |  |  |  |  | (4) |  | (2) |
Total |  |  |  |  |  |  |  | 955 |  | 1,391 |
Reconciling items: |  |  |  |  |  |  |  |  |
Changes in the fair values of equity securities, AIG's investment in Corebridge and gain on sale of shares | 464 |  | 464 |
Gain (loss) on extinguishment of debt | — |  | 5 |
Net investment income on Fortitude Re funds withheld assets | 39 |  | 39 |
Net realized losses on Fortitude Re funds withheld assets | — |  | (52) |
Net realized gains (losses) on Fortitude Re funds withheld embedded derivative | — |  | (14) |
Net realized losses(c) | — |  | (191) |
Net gain on divestitures and other | — |  | 50 |
Non-operating litigation reserves and settlements | — |  | 2 |
(Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements | — |  | (53) |
Net loss reserve discount charge | — |  | (12) |
Net results of businesses in run-off(d) | 8 |  | 2 |
Non-operating pension expenses | — |  | (5) |
Integration and transaction costs associated with acquiring or divesting businesses | — |  | (1) |
Restructuring and other costs(e) | — |  | (78) |
Non-recurring costs related to regulatory or accounting changes | — |  | (3) |
Total AIG Consolidated | $ | 1,466 |  | $ | 1,544 |
Three Months Ended June 30, 2024
(in millions) | Net Premiums Written | Net Premiums Earned | Losses and Loss Adjustment Expenses Incurred(a) | Amortization of DAC(a) | Other Acquisition Expenses(a) | General Operating Expenses(a)(b) | Underwriting Income (Loss) | Net Investment Income | Reconciliation to Income (Loss) from Continuing Operations Before Income Tax Expense
North America Commercial | $ | 2,750 |  | $ | 1,940 |  | $ | 1,307 |  | $ | 189 |  | $ | 63 |  | $ | 190 |  | $ | 191 |  |  |
International Commercial | 2,284 |  | 2,031 |  | 1,201 |  | 250 |  | 81 |  | 269 |  | 230 |  |  |
Global Personal | 1,899 |  | 1,778 |  | 1,000 |  | 402 |  | 114 |  | 253 |  | 9 |  |  |
Total General Insurance | $ | 6,933 |  | $ | 5,749 |  | $ | 3,508 |  | $ | 841 |  | $ | 258 |  | $ | 712 |  | $ | 430 |  | $ | 746 |  | $ | 1,176 |
Interest expense |  |  |  |  |  |  |  | — |  | (111) |
Other Operations |  |  |  |  |  |  |  | 136 |  | (47) |
Elimination and consolidations |  |  |  |  |  |  |  | (3) |  | (5) |
Total |  |  |  |  |  |  |  | 879 |  | 1,013 |
Reconciling items: |  |  |  |  |  |  |  |  |
Changes in the fair values of equity securities, AIG's investment in Corebridge and gain on sale of shares | 59 |  | 59 |
Other income (expense) - net | 15 |  | — |
Gain (loss) on extinguishment of debt | — |  | (1) |
Net investment income on Fortitude Re funds withheld assets | 33 |  | 33 |
Net realized losses on Fortitude Re funds withheld assets | — |  | (1) |
Net realized gains (losses) on Fortitude Re funds withheld embedded derivative | — |  | 8 |
Net realized losses(c) | (1) |  | (186) |
Net gain on divestitures and other | — |  | 102 |
(Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements | — |  | 62 |
Net loss reserve discount charge | — |  | (26) |
Net results of businesses in run-off(d) | 5 |  | 5 |
Integration and transaction costs associated with acquiring or divesting businesses | — |  | (18) |
Restructuring and other costs(e) | — |  | (426) |
Non-recurring costs related to regulatory or accounting changes | — |  | (7) |
Total AIG Consolidated | $ | 990 |  | $ | 617 |
Six Months Ended June 30, 2025
(in millions) | Net Premiums Written | Net Premiums Earned | Losses and Loss Adjustment Expenses Incurred(a) | Amortization of DAC(a) | Other Acquisition Expenses(a) | General Operating Expenses(a)(b) | Underwriting Income (Loss) | Net Investment Income | Reconciliation to Income (Loss) from Continuing Operations Before Income Tax Expense
North America Commercial | $ | 4,037 |  | $ | 4,257 |  | $ | 2,866 |  | $ | 433 |  | $ | 93 |  | $ | 435 |  | $ | 430 |  |  |
International Commercial | 4,352 |  | 4,175 |  | 2,348 |  | 514 |  | 178 |  | 595 |  | 540 |  |  |
Global Personal | 3,017 |  | 3,215 |  | 1,980 |  | 724 |  | 162 |  | 450 |  | (101) |  |  |
Total General Insurance | $ | 11,406 |  | $ | 11,647 |  | $ | 7,194 |  | $ | 1,671 |  | $ | 433 |  | $ | 1,480 |  | $ | 869 |  | $ | 1,607 |  | $ | 2,476 |
Interest expense |  |  |  |  |  |  |  | — |  | (192) |
Other Operations |  |  |  |  |  |  |  | 196 |  | 18 |
Elimination and consolidations |  |  |  |  |  |  |  | (3) |  | (2) |
Total |  |  |  |  |  |  |  | 1,800 |  | 2,300 |
Reconciling items: |  |  |  |  |  |  |  |  |
Changes in the fair values of equity securities, AIG's investment in Corebridge and gain on sale of shares | 681 |  | 681 |
Gain (loss) on extinguishment of debt | — |  | 5 |
Net investment income on Fortitude Re funds withheld assets | 79 |  | 79 |
Net realized losses on Fortitude Re funds withheld assets | — |  | (54) |
Net realized losses on Fortitude Re funds withheld embedded derivative | — |  | (55) |
Net realized gains (losses)(c) | (2) |  | (257) |
Net gain on divestitures and other | — |  | 53 |
Non-operating litigation reserves and settlements | — |  | 13 |
(Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements | — |  | (62) |
Net loss reserve discount charge | — |  | (29) |
Net results of businesses in run-off(d) | 13 |  | 7 |
Non-operating pension expenses | — |  | (10) |
Integration and transaction costs associated with acquiring or divesting businesses | — |  | (6) |
Restructuring and other costs(e) | — |  | (154) |
Non-recurring costs related to regulatory or accounting changes | — |  | (7) |
Total AIG Consolidated | $ | 2,571 |  | $ | 2,504 |
Six Months Ended June 30, 2024
(in millions) | Net Premiums Written | Net Premiums Earned | Losses and Loss Adjustment Expenses Incurred(a) | Amortization of DAC(a) | Other Acquisition Expenses(a) | General Operating Expenses(a)(b) | Underwriting Income (Loss) | Net Investment Income | Reconciliation to Income (Loss) from Continuing Operations Before Income Tax Expense
North America Commercial | $ | 3,783 |  | $ | 3,923 |  | $ | 2,577 |  | $ | 409 |  | $ | 100 |  | $ | 410 |  | $ | 427 |  |  |
International Commercial | 4,223 |  | 4,042 |  | 2,289 |  | 494 |  | 170 |  | 529 |  | 560 |  |  |
Global Personal | 3,439 |  | 3,570 |  | 1,995 |  | 766 |  | 263 |  | 507 |  | 39 |  |  |
Total General Insurance | $ | 11,445 |  | $ | 11,535 |  | $ | 6,861 |  | $ | 1,669 |  | $ | 533 |  | $ | 1,446 |  | $ | 1,026 |  | $ | 1,508 |  | $ | 2,534 |
Interest expense |  |  |  |  |  |  |  | — |  | (226) |
Other Operations |  |  |  |  |  |  |  | 212 |  | (136) |
Elimination and consolidations |  |  |  |  |  |  |  | — |  | (6) |
Total |  |  |  |  |  |  |  | 1,720 |  | 2,166 |
Reconciling items: |  |  |  |  |  |  |  |  |
Changes in the fair values of equity securities, AIG's investment in Corebridge and gain on sale of shares | 147 |  | 147 |
Other income (expense) - net | 16 |  | — |
Gain (loss) on extinguishment of debt | — |  | (1) |
Net investment income on Fortitude Re funds withheld assets | 72 |  | 72 |
Net realized losses on Fortitude Re funds withheld assets | — |  | (20) |
Net realized losses on Fortitude Re funds withheld embedded derivative | — |  | (1) |
Net realized gains (losses)(c) | 6 |  | (241) |
Net gain on divestitures and other | — |  | 102 |
(Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements | — |  | 60 |
Net loss reserve discount charge | — |  | (102) |
Net results of businesses in run-off(d) | 8 |  | 12 |
Integration and transaction costs associated with acquiring or divesting businesses | — |  | (15) |
Restructuring and other costs(e) | — |  | (493) |
Non-recurring costs related to regulatory or accounting changes | — |  | (11) |
Total AIG Consolidated | $ | 1,969 |  | $ | 1,675 |
(a)These represent our significant expense categories of which amounts align with the segment-level information that is regularly provided to the CODMs. (b)General operating expenses are primarily comprised of employee compensation and benefits, as well as professional fees. (c)Includes all Net realized gains and losses except earned income (periodic settlements and changes in settlement accruals) on derivative instruments used for non-qualifying (economic) hedging or for asset replication and net realized gains and losses on Fortitude Re funds withheld assets held by AIG in support of Fortitude Re’s reinsurance obligations to AIG (Fortitude Re funds withheld assets). (d)In the fourth quarter of 2024, AIG realigned and began excluding the net results of run-off businesses previously reported in Other Operations from Adjusted pre-tax income. Historical results have been recast to reflect these changes. (e)In the second quarter of 2024, Restructuring and other costs was primarily related to employee-related costs, including severance, and real estate impairment charges. For the three months ended June 30, 2024, we recorded a severance charge of $285 million and asset impairment of $53 million as a result of restructuring activities.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 11: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 12: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 13: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 14: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 15: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 16: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 17: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration