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AIG

American International Group, Inc.

AIG

American International Group, Inc. • NYSE
$76.16 ▲ 0.16% (+0.12)
Market Cap $41.09 B
52w High $88.07
52w Low $69.24
Dividend Yield 1.70%
P/E 13.7
Volume 1.37M
Outstanding Shares 539.58M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $6.402B ▼ $1.447B ▲ $519M ▼ 8.107% ▼ $0.95 ▼ $1.644B ▼
Q2-2025 $7.041B ▲ $1.157B ▼ $1.144B ▲ 16.248% ▲ $2 ▲ $2.527B ▲
Q1-2025 $6.774B ▼ $1.195B ▲ $698M ▼ 10.304% ▼ $1.18 ▼ $1.918B ▼
Q4-2024 $7.173B ▲ $935M ▼ $898M ▲ 12.519% ▲ $1.52 ▲ $2.645B ▲
Q3-2024 $6.755B $1.47B $459M 6.795% $0.72 $1.617B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $11.006B ▼ $163.415B ▼ $122.298B ▼ $41.085B ▼
Q2-2025 $11.927B ▼ $165.971B ▲ $124.442B ▲ $41.501B ▲
Q1-2025 $11.994B ▼ $161.864B ▲ $120.405B ▲ $41.431B ▼
Q4-2024 $37.407B ▲ $161.322B ▼ $118.772B ▼ $42.521B ▼
Q3-2024 $13.32B $169.449B $124.376B $45.039B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $524M ▼ $1.343B ▼ $-56M ▼ $-1.532B ▲ $-247M ▼ $1.343B ▼
Q2-2025 $1.144B ▲ $1.391B ▲ $564M ▼ $-1.535B ▲ $433M ▲ $1.391B ▲
Q1-2025 $698M ▼ $-56M ▼ $2.751B ▲ $-2.677B ▲ $36M ▲ $-56M ▼
Q4-2024 $947M ▲ $125M ▼ $2.653B ▲ $-3.004B ▼ $-187M ▼ $125M ▼
Q3-2024 $481M $1.699B $315M $-1.911B $157M $1.699B

Revenue by Products

Product Q4-2023Q1-2024Q2-2024Q3-2024
Corporate Nonsegment and Reconciling Items
Corporate Nonsegment and Reconciling Items
 $110.00M ▲$100.00M ▼$140.00M ▲$120.00M ▼
General Insurance Segment
General Insurance Segment
 $7.13Bn ▲$6.55Bn ▼$6.50Bn ▼$6.72Bn ▲
Total Reconciling Items
Total Reconciling Items
 $-270.00M ▲$10.00M ▲$-70.00M ▼$-90.00M ▼

Five-Year Company Overview

Income Statement

Income Statement AIG’s income statement over the past few years tells a story of restructuring and volatility rather than a smooth growth path. Revenue has swung meaningfully as the company has sold or separated businesses and refocused on core property and casualty operations. Underwriting and operating profit have generally been positive since the pandemic period, but earnings have been lumpy, with one year recently slipping back into a net loss. That kind of bump usually reflects items like catastrophe losses, reserve adjustments, or investment swings more than a broken business model. Overall, AIG looks more profitable than it was five years ago, but its earnings pattern still shows that results can change quickly from year to year in response to market conditions and large claims.

Balance Sheet

Balance Sheet The balance sheet has become much leaner and simpler as AIG has shrunk and reshaped the group. Total assets have dropped sharply, mainly due to divestitures and refocusing, while shareholders’ equity has stayed broadly steady, suggesting the company has tried to exit lower-return or non-core areas rather than just absorbing losses. Debt has come down meaningfully over time, which reduces financial risk and interest burden. For an insurer, the quality and matching of assets and liabilities matter as much as their size, and while we don’t see that detail here, the broad direction—lower leverage and a more focused footprint—supports the picture of a de-risked, tighter balance sheet compared with the past.

Cash Flow

Cash Flow Cash generation looks more stable than the income statement might suggest. Operating cash flow has been positive in each of the last several years, even when accounting profit dipped into a loss, which is common in insurance where accounting charges and cash movements don’t always line up. Free cash flow closely tracks operating cash flow because capital spending is minimal for this type of business. The pattern suggests that the core insurance engine continues to bring in cash, though recent cash flows have eased from prior peaks, indicating some pressure from claims, investments, or restructuring. Overall, cash flow supports the view of a still-solid franchise working through a multiyear transition.

Competitive Edge

Competitive Edge AIG holds a distinctive position in the insurance world, especially in complex commercial and specialty risks. Its global network, serving clients in many countries with coordinated programs, is difficult for smaller rivals to match. The company is particularly known for taking on large and unusual exposures—such as directors’ and officers’ liability, cyber, and political risk—where expertise and reputation are crucial. The brand remains widely recognized, and ongoing balance sheet strengthening gives it capacity to write big policies. On the other hand, these same areas can be volatile and attract intense competition from other large global insurers and reinsurers. The strategic refocus on core property and casualty lines and disciplined underwriting has improved profitability, but the company still operates in a cyclical, catastrophe-exposed segment where mispricing or poor risk selection can quickly erode results.

Innovation and R&D

Innovation and R&D AIG is leaning heavily into technology and process redesign through its “AIG Next” transformation program rather than traditional lab-style R&D. The company is embedding artificial intelligence and advanced analytics into underwriting, pricing, and claims to speed decisions and refine risk selection. It is also using automation to take out costs and streamline operations, with explicit targets for sizable expense reductions over the next couple of years. This kind of modernization can deepen AIG’s data advantage, improve consistency of underwriting decisions, and enhance the customer experience through faster, more digital interactions. However, execution risk is real: cultural change, integration of new tools with legacy systems, and maintaining underwriting judgment while relying more on algorithms are all challenges. The planned innovation hub and continued investment in AI-backed capabilities show that AIG views technology as central to its future competitiveness rather than a side project.

Summary

AIG is a large, global insurer in the middle of a long transition from a sprawling, highly leveraged conglomerate to a more focused, technology-enabled property and casualty specialist. Financially, it has moved from losses and heavy complexity toward more disciplined underwriting, lower leverage, and steadier cash generation, though earnings remain uneven and recently slipped into a loss again. Strategically, it is emphasizing complex commercial and specialty risks where its global reach and expertise provide an edge, while using AI and process redesign to simplify operations and cut costs. The main opportunities lie in turning this transformation into consistently higher-quality earnings and better efficiency; the main risks are execution missteps, competitive pressure in key lines, and the inherent volatility of insuring large, complex risks in a world of rising catastrophe and cyber exposures.

NEWS

November 20, 2025 · 12:00 PM UTC

AM Best Revises Outlooks to Positive for Credit Ratings of American International Group, Inc. and Its Core Property/Casualty Subsidiaries

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November 4, 2025 · 8:09 PM UTC

Corebridge Financial Announces Pricing of Secondary Offering of Common Stock by AIG

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November 4, 2025 · 4:23 PM UTC

Corebridge Financial Announces Launch of Secondary Offering of Common Stock by AIG

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November 4, 2025 · 4:16 PM UTC

AIG Reports Excellent Third Quarter 2025 Results

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October 30, 2025 · 7:13 AM UTC

AIG Announces Long-Term Strategic Investment in Top-Performing Global Specialty Insurer Convex Group and an Equity Stake in Global Asset Manager Onex Corporation

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