v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information
3. Segment Information
AIG has three reportable segments: North America Commercial, International Commercial and Global Personal. Our Chief Executive Officer and Chief Financial Officer are our chief operating decision makers (CODMs) and use Underwriting income (loss) to benchmark and assess AIG's performance by segment and establish management’s compensation. Our general insurance business (General Insurance) consists of our three segments and the Net investment income and Amortization of intangible assets including renewal rights related to our insurance operations.
In the first quarter of 2026, AIG realigned and began reporting Amortization of intangible assets in General Insurance from Other Operations; historical results have been recast to reflect these changes.
NORTH AMERICA COMMERCIAL
The North America Commercial segment consists of insurance businesses and operations in the United States, Canada and Bermuda.
INTERNATIONAL COMMERCIAL
The International Commercial segment consists of insurance businesses and operations in Europe, Middle East and Africa (EMEA region), the United Kingdom, Japan, Asia Pacific, Latin America and Caribbean, and China. The International Commercial segment also includes the results of Talbot Holdings Ltd. (Talbot) as well as AIG’s Global Specialty business.
GLOBAL PERSONAL
The Global Personal segment consists primarily of Global Accident & Health and Personal Lines insurance businesses in the United States, 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 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 operations by segment:
Three Months Ended June 30, 2026
(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 Pre-tax
Income (Loss)
North America Commercial$3,125 $2,324 $1,410 $248 $38 $256 $372 
International Commercial2,588 2,272 1,344 304 102 322 200 
Global Personal1,803 1,600 851 342 80 213 114 
Total General Insurance(c)
$7,516 $6,196 $3,605 $894 $220 $791 $686 $871 $1,546 
Interest expense— (99)
Other Operations36 (43)
Elimination and consolidations1 — 
Total908 1,404 
Reconciling items:
Changes in the fair values of equity securities, AIG's investment in Corebridge and gain/loss on sale of shares173 173 
Other income (expense) - net1 — 
Net investment income on Fortitude Re funds withheld assets36 36 
Net realized losses on Fortitude Re funds withheld assets— (6)
Net realized losses on Fortitude Re funds withheld embedded derivative— (51)
Net realized losses(d)
— (208)
Net gain (loss) on divestitures and other(e)
— (6)
(Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements— 67 
Net loss reserve discount charge— (28)
Net results of businesses in run-off(f)
9 (1)
Non-operating pension expenses— 1 
Integration and transaction costs associated with acquiring or divesting businesses— (41)
Restructuring and other costs— (71)
Non-recurring costs related to regulatory or accounting changes— (5)
Total AIG Consolidated$1,127 $1,264 
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 Pre-tax
Income (Loss)
North America Commercial$2,863 $2,133 $1,340 $206 $46 $240 $301 
International Commercial2,325 2,124 1,170 269 84 301 300 
Global Personal1,692 1,621 918 371 71 236 25 
Total General Insurance(c)
$6,880 $5,878 $3,428 $846 $201 $777 $626 $871 $1,492 
Interest expense— (101)
Other Operations88 2 
Elimination and consolidations(4)(2)
Total955 1,391 
Reconciling items:
Changes in the fair values of equity securities, AIG's investment in Corebridge and gain/loss on sale of shares464 464 
Gain on extinguishment of debt— 5 
Net investment income on Fortitude Re funds withheld assets39 39 
Net realized losses on Fortitude Re funds withheld assets— (52)
Net realized losses on Fortitude Re funds withheld embedded derivative— (14)
Net realized losses(d)
— (191)
Net gain (loss) 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(f)
8 2 
Non-operating pension expenses— (5)
Integration and transaction costs associated with acquiring or divesting businesses— (1)
Restructuring and other costs— (78)
Non-recurring costs related to regulatory or accounting changes— (3)
Total AIG Consolidated$1,466 $1,544 
Six Months Ended June 30, 2026
(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 Pre-tax
Income (Loss)
North America Commercial$4,730 $4,577 $2,831 $461 $106 $480 $699 
International Commercial5,038 4,459 2,590 582 187 622 478 
Global Personal3,347 3,212 1,693 669 160 407 283 
Total General Insurance(c)
$13,115 $12,248 $7,114 $1,712 $453 $1,509 $1,460 $1,735 $3,174 
Interest expense— (199)
Other Operations88 (68)
Total1,823 2,907 
Reconciling items:
Changes in the fair values of equity securities, AIG's investment in Corebridge and gain/loss on sale of shares(64)(64)
Other income (expense) - net3 — 
Net investment income on Fortitude Re funds withheld assets59 59 
Net realized losses on Fortitude Re funds withheld assets— (19)
Net realized losses on Fortitude Re funds withheld embedded derivative— (41)
Net realized losses(d)
— (344)
Net gain (loss) on divestitures and other(e)
— (133)
(Unfavorable) favorable prior year development and related amortization changes ceded under retroactive reinsurance agreements— 75 
Net loss reserve discount benefit (charge)— 20 
Net results of businesses in run-off(f)
18 (6)
Non-operating pension expenses— 2 
Integration and transaction costs associated with acquiring or divesting businesses— (48)
Restructuring and other costs— (147)
Non-recurring costs related to regulatory or accounting changes— (10)
Total AIG Consolidated$1,839 $2,251 
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 Pre-tax
Income (Loss)
North America Commercial$4,037 $4,257 $2,866 $433 $93 $435 $430 
International Commercial4,352 4,175 2,348 514 178 595 540 
Global Personal3,017 3,215 1,980 724 162 450 (101)
Total General Insurance(c)
$11,406 $11,647 $7,194 $1,671 $433 $1,480 $869 $1,607 $2,467 
Interest expense— (192)
Other Operations196 27 
Elimination and consolidations(3)(2)
Total1,800 2,300 
Reconciling items:
Changes in the fair values of equity securities, AIG's investment in Corebridge and gain/loss on sale of shares681 681 
Gain on extinguishment of debt— 5 
Net investment income on Fortitude Re funds withheld assets79 79 
Net realized losses on Fortitude Re funds withheld assets— (54)
Net realized losses on Fortitude Re funds withheld embedded derivative— (55)
Net realized losses(d)
(2)(257)
Net gain (loss) 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 benefit (charge)— (29)
Net results of businesses in run-off(f)
13 7 
Non-operating pension expenses— (10)
Integration and transaction costs associated with acquiring or divesting businesses— (6)
Restructuring and other costs— (154)
Non-recurring costs related to regulatory or accounting changes— (7)
Total AIG Consolidated$2,571 $2,504 
(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)Amortization of intangible assets including renewal rights was $11 million and $5 million for the three months ended June 30, 2026 and 2025, respectively, and $21 million and $9 million for the six months ended June 30, 2026 and 2025, respectively.
(d)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).
(e)In the six months ended June 30, 2026, Net gain (loss) on divestitures and other primarily relates to a change in estimate for earn-out considerations associated with the dispositions of Validus Reinsurance, Ltd. and global personal travel and assistance business.
(f)In the third quarter of 2025, AIG began excluding the net results of run-off businesses previously reported in General Insurance from Adjusted pre-tax income.