Financial Data and Key Metrics Changes - Adjusted after-tax income was $775 million, or $1.16 per diluted share, representing a 38% increase in earnings per share year-over-year [9] - General Insurance net premiums written grew 7%, with underwriting income at $430 million, and an underlying underwriting income improvement of $110 million or 17% year-over-year [10] - Consolidated net investment income on an adjusted pre-tax income basis was $884 million, a 14% increase year-over-year [10] Business Line Data and Key Metrics Changes - Gross premiums written for General Insurance were $9.9 billion, an increase of 7% from the prior year, with net premiums written at $6.9 billion [18] - Global Commercial net premiums written grew 8%, while Global Personal net premiums written increased by 5% year-over-year [19][22] - North America Commercial net premiums written grew 10%, with Lexington achieving a 16% growth [19] Market Data and Key Metrics Changes - International Commercial produced new business of $522 million for the quarter, an increase of 9% year-over-year [21] - The accident year combined ratio for General Insurance, excluding catastrophes, improved by 170 basis points year-over-year to 87.6% [22] - The CAT loss ratio was 5.7%, or $325 million of total catastrophe-related losses [10] Company Strategy and Development Direction - The company is focused on simplifying its portfolio and has announced the sale of its global individual personal travel insurance business [15] - AIG is committed to its high net worth business, having invested over $100 million in infrastructure and digital capabilities [17] - The company aims to achieve a combined ratio of 91.6% or lower for the full year 2025, driven by strong underwriting and expense reduction [73] Management's Comments on Operating Environment and Future Outlook - Management noted that the outlook for natural catastrophes in the second half of 2024 is uncertain, with predictions of above-average hurricane activity [25] - The company has maintained a disciplined approach to capital management, having deployed over $30 billion in cash towards this strategy over the last three years [30] - Management expressed confidence in the portfolio's profitability despite challenges in the property market [66] Other Important Information - The deconsolidation of Corebridge Financial was a significant milestone, impacting AIG's financials and simplifying its income statement [39][57] - AIG's shareholders' equity increased to $44.4 billion at June 30, 2024, reflecting a $1.1 billion net increase in the quarter [48] - The company expects its adjusted tax rate for 2024 to be about 24% before discrete items [57] Q&A Session Summary Question: Impact of the updated combined ratio trajectory guidance for 2025 - Management clarified that the guidance does not contemplate any improvement in the loss ratio, focusing instead on expense ratio reductions [63] Question: General sense of the impact of the sale of the travel insurance on underwriting results - Management indicated that the premium impact would be $750 million, but the overall combined ratio impact would be minimal [68] Question: Favorable development in excess casualty - Management confirmed that favorable development was primarily from older years rather than recent years, with detailed analysis conducted on reserves [72]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 —————————— FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-8787 American International Group, Inc. (Exact name of registrant as specified in its charter) Delaware 13-2592361 (State or other ...

For the quarter ended June 2024, American International Group (AIG) reported revenue of $6.64 billion, down 49.5% over the same period last year. EPS came in at $1.16, compared to $1.75 in the year-ago quarter.The reported revenue represents a surprise of -45.73% over the Zacks Consensus Estimate of $12.23 billion. With the consensus EPS estimate being $1.39, the EPS surprise was -16.55%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare ...

American International Group (AIG) came out with quarterly earnings of $1.16 per share, missing the Zacks Consensus Estimate of $1.39 per share. This compares to earnings of $1.75 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -16.55%. A quarter ago, it was expected that this insurer would post earnings of $1.66 per share when it actually produced earnings of $1.77, delivering a surprise of 6.63%.Over the last four quarters, ...

Press Release Contacts: www.aig.com Quentin McMillan (Investors): quentin.mcmillan@aig.com Claire Talcott (Media): claire.talcott@aig.com AIG Reports Exceptional Second Quarter 2024 Results Second Quarter 2024 Results Reflect the Successful Corebridge Financial Deconsolidation † † ■ General Insurance net premiums written (NPW) of $6.9 billion, a decrease of 8% on a reported basis, and an increase of 7% on a comparable basis* led by North America Commercial with 10% growth ■ Produced record Commercial Lines ...

American International Group, Inc. (AIG) is set to report its second-quarter 2024 results on Jul 31, after the closing bell.The Zacks Consensus Estimate for second-quarter earnings is currently pegged at $1.39 per share, implying a decrease of 20.6% from the year-ago reported number. The estimate was revised downward by four analysts in the past month against one movement in the opposite direction, resulting in a decrease of 21.9% from $1.78 per share. The Zacks Consensus Estimate for second-quarter revenue ...

Analysts on Wall Street project that American International Group (AIG) will announce quarterly earnings of $1.39 per share in its forthcoming report, representing a decline of 20.6% year over year. Revenues are projected to reach $12.23 billion, declining 6.9% from the same quarter last year.Over the last 30 days, there has been a downward revision of 4% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their ini ...

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American International Group, Inc. (AIG) recently entered into a definitive agreement to divest its global individual personal travel insurance and assistance business. It has agreed to sell the business for $600 million cash coupled with additional earn-out consideration to Zurich Insurance Group. The sale is expected to be completed by the end of 2024, pending closing conditions and regulatory approvals.The sale agreement contains its Travel Guard line and servicing capabilities, barring Japan and its joi ...

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