Business Description

American International Group, Inc. (AIG) is a leading global insurance organization headquartered in New York City. The company provides a wide range of property casualty insurance and risk management solutions to commercial and individual customers across approximately 190 countries and jurisdictions. Following the recent spin-off of its life and retirement business, AIG operates primarily as a focused, global property and casualty insurer.

Financial Statements

In thousands, USD
FY 2025FY 2024FY 2023FY 2022
Net Premiums Earned23,751,00023,537,00025,564,00026,765,000
Investment Income4,215,0004,255,0003,446,0002,370,000
Net Gains on Investments(1,202,000)(548,000)(1,078,000)827,000
Total Other Revenues11,0007,0006,00034,000
Total Revenues26,775,00027,251,00027,938,00029,996,000
Insurance Benefits & Claims14,162,00014,567,00015,393,00015,461,000
Policy Amortization Costs3,371,0003,425,0003,771,0003,545,000
Other Operating Expenses5,053,0005,529,0005,399,0006,159,000
Operating Profit4,189,0003,730,0003,375,0004,831,000
Interest Expense(396,000)(462,000)(516,000)(603,000)
Non-Operating Income86,000602,0008,000(456,000)
Total Non-Operating Income(310,000)140,000(508,000)(1,059,000)
Income Before Provision for Income Taxes3,879,0003,870,0002,867,0003,772,000
Provision for Income Taxes782,0001,170,000126,000882,000
Consolidated Net Income3,097,0002,700,0002,741,0002,890,000
Net Income Attributable to Minority Interests and Other1,000478,000235,0001,046,000
Net Income Attributable to Preferred Dividends—22,00029,00029,000
Net Income Attributable to Discontinued Operations—(3,626,000)1,137,0008,383,000
Net Income Attributable to Common Shareholders3,096,000(1,426,000)3,614,00010,198,000
Basic EPS5.48-2.195.0213.10
Diluted EPS5.43-2.194.9812.94
Basic Weighted Average Shares Outstanding565,078651,448719,506778,621
Diluted Weighted Average Shares Outstanding570,350657,283725,233787,942
Shares Outstanding538,200606,159688,800734,100
FY 2025FY 2024FY 2023FY 2022
Debt Securities74,660,00068,619,00070,346,000280,246,000
Equity and Preferred Securities502,000704,000605,000575,000
Other Investments17,837,00024,290,00019,233,00028,329,000
Total Investments92,999,00093,613,00090,244,000309,150,000
Cash and Cash Equivalents1,274,0001,302,0001,540,0002,043,000
Reinsurance Contract Assets37,996,00038,045,00039,132,00069,722,000
Deferred Acquisition Costs2,106,0002,065,0002,117,00012,857,000
Other Receivables11,132,00011,062,00010,547,00015,619,000
Goodwill3,435,0003,373,0003,422,000—
Other Assets12,312,00011,862,000392,304,000112,837,000
Total Assets161,254,000161,322,000539,306,000522,228,000
Unearned Premiums17,991,00017,232,00017,375,00018,338,000
Claims Reserves72,403,00070,903,00072,355,000286,528,000
Reinsurance Contract Liabilities3,038,0003,207,0003,527,00030,383,000
Accounts Payable7,004,0007,574,0007,570,000—
Total Debt9,191,0008,922,00010,606,0005,880,000
Other Liabilities10,465,00010,934,000376,572,000116,346,000
Total Liabilities120,092,000118,772,000488,005,000478,774,000
Preferred Stock——485,000485,000
Common Stock4,766,0004,766,0004,766,0004,766,000
Treasury Stock(71,199,000)(65,573,000)(59,189,000)(56,473,000)
Additional Paid-in Capital75,373,00075,348,00075,810,00079,915,000
Accumulated Other Comprehensive Income(4,987,000)(7,099,000)(14,037,000)(22,616,000)
Retained Earnings37,186,00035,079,00037,516,00034,893,000
Total Common Shareholders' Equity41,139,00042,521,00045,351,00040,970,000
Minority Interests and Other23,00029,0005,950,0002,484,000
Total Shareholders' Equity41,162,00042,550,00051,301,00043,454,000
Total Liabilities and Shareholders' Equity161,254,000161,322,000539,306,000522,228,000
FY 2025FY 2024FY 2023FY 2022
Net Income3,097,000(926,000)3,878,00011,273,000
Depreciation & Amortization3,455,0003,597,0003,841,0003,861,000
Other Adjustments519,0003,063,000598,000(5,232,000)
Changes in Receivables(1,168,000)(571,000)544,000(1,681,000)
Changes in Reinsurance Contract Assets501,000727,000(204,000)2,794,000
Changes in Deferred Acquisition Costs(3,438,000)(3,519,000)(4,157,000)(3,732,000)
Changes in Claims Reserves93,000341,000823,000(4,486,000)
Changes in Income Taxes Payable452,000468,000(338,000)199,000
Changes in Other Operating Activities(197,000)197,0001,968,0001,626,000
Net Cash from Discontinued Operations—(104,000)(710,000)(488,000)
Cash from Operating Activities3,314,0003,273,0006,243,0004,134,000
Purchases of Investments(26,726,000)(24,284,000)(24,300,000)(21,496,000)
Proceeds from Sale of Investments27,252,00031,144,00026,910,00025,288,000
Proceeds from Business Divestments—587,0002,568,000—
Other Investing Activities2,664,000(1,604,000)(7,665,000)(879,000)
Net Cash from Discontinued Operations—(4,171,000)(4,534,000)(6,539,000)
Cash from Investing Activities3,190,0001,672,000(7,021,000)(3,626,000)
Issuance of Long-Term Debt1,241,000661,000742,00097,000
Repayments of Long-Term Debt(1,101,000)(2,048,000)(2,349,000)(9,760,000)
Net Issuance / (Repayments) of Long-Term Debt140,000(1,387,000)(1,607,000)(9,663,000)
Repurchases of Common Shares(5,836,000)(6,652,000)(2,961,000)(5,200,000)
Net Issuance / (Repurchases) of Common Shares(5,836,000)(6,652,000)(2,961,000)(5,200,000)
Repurchases of Preferred Shares—(485,000)——
Net Issuance / (Repurchases) of Preferred Shares—(485,000)——
Common Share Dividends Paid(976,000)(1,002,000)(997,000)(982,000)
Preferred Share Dividends Paid—(22,000)(29,000)(29,000)
Other Financing Activities129,000605,0002,846,0001,369,000
Net Cash from Discontinued Operations—3,880,0003,530,00013,903,000
Cash from Financing Activities(6,543,000)(5,063,000)782,000(602,000)
Effect of Exchange Rate Changes on Cash and Cash Equivalents12,000(83,000)(13,000)(117,000)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash(27,000)(201,000)(9,000)(211,000)

Key Metrics & Ratios

MetricValue
Market Cap$46.04B
P/E15.76x
P/S1.65x
Return on Equity7.4%
Return on Invested Capital2.2%
Dividend Yield2.0%
Free Cash Flow Margin12.4%

Margins

Gross margin
—
Operating margin
15.6%
Net margin
11.6%

Quarterly Trend

QuarterRevenueYoY growthOperating marginOperating income
Q2 2026 $7.08B -0.1% 19.3% $1.37B
Q1 2026 $6.65B -2.0% 18.3% $1.21B
Q4 2025 $6.55B -8.7% 11.3% $738M
Q3 2025 $6.35B -5.9% 12.8% $813M
Q2 2025 $7.09B — 22.4% $1.59B
Q1 2025 $6.78B — 15.5% $1.05B
Q4 2024 $7.18B — 16.0% $1.15B
Q3 2024 $6.75B — 11.4% $769M

More on American International Group, Inc.

Figures compiled from public company filings.

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