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 March 31, 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 ...

Core Insights - American International Group, Inc. (AIG) reported first-quarter 2024 adjusted earnings per share of $1.77, exceeding the Zacks Consensus Estimate by 6.6% and improving 8.6% year over year [1] - Operating revenues reached $12.5 billion, a 0.8% year-over-year increase, surpassing the consensus mark by 3.6% [1] Quarterly Operational Update - Premiums totaled $8.2 billion, down 3.7% year over year, but exceeded the Zacks Consensus Estimate of $7.8 billion [2] - Total net investment income rose 11% year over year to $3.9 billion, driven by increased income from fixed maturity securities and loans [2] - Total benefits, losses, and expenses decreased 6.1% year over year to $10.5 billion, lower than estimates [2] - Adjusted return on common equity improved to 9.3%, up 60 basis points year over year [2] Segmental Performances General Insurance - Net premiums written fell to $4.5 billion, a 35% year-over-year decline, primarily due to softness in Financial Lines [3] - Underwriting income increased 19% year over year to $596 million, supported by strong contributions from North America Personal Insurance [3] - Catastrophe losses decreased significantly by 59.8% year over year to $106 million [3] Life & Retirement - Premiums and fees grew 6% year over year to $3.1 billion, with premiums and deposits increasing 2% to $10.7 billion [5] - Adjusted revenues rose 10.2% year over year to $5.9 billion, surpassing the Zacks Consensus Estimate [5] - Adjusted pre-tax income improved 12% year over year to $991 million, although it missed the consensus estimate [5] Financial Position (As of Mar 31, 2024) - Cash balance stood at $1.8 billion, down 15.7% from the end of 2023 [6] - Total assets increased by 0.9% to $544.1 billion [6] - Total equity decreased by 4.3% to $49.1 billion, while total debt to total capital improved to 28.1% [6] - Adjusted book value per share grew 3% year over year to $77.79 [6] Capital Deployment Update - AIG repurchased shares worth $1.7 billion and distributed $250 million in dividends [7] - Management authorized an increase of up to $10 billion in share buyback authorization effective from May 2024 [7] - A quarterly dividend hike of 11% was announced, raising the dividend to 40 cents per common share [7] Performances of Other Insurers - Arch Capital Group Ltd. reported operating income of $2.45 per share, beating estimates by 18.9% and showing a 41.6% year-over-year increase [9] - Cincinnati Financial Corporation's operating income surged 93.2% year over year to $1.72 per share, although total operating revenues missed estimates [10] - Kinsale Capital's net operating earnings reached $3.50 per share, exceeding estimates by 5.1% and increasing 43.4% year over year [11]

Financial Data and Key Metrics Changes - Adjusted after-tax income was $1.2 billion or $1.77 per diluted common share, representing a 9% increase in earnings per share year-over-year [9] - Consolidated net investment income on an adjusted pretax income basis was $3.5 billion, a 13% increase year-over-year [9] - General insurance underwriting income was $596 million, a 19% increase year-over-year [9] - The accident year combined ratio excluding catastrophes improved by 30 basis points to 88.4% [10] Business Line Data and Key Metrics Changes - Life & Retirement segment reported premiums and deposits of $10.7 billion, the highest quarterly result in the last decade, with strong APTI growth of 12% [10] - General Insurance net premiums written were $4.5 billion, reflecting the impact of divestitures [14] - North America Commercial net premiums written grew 4%, with Lexington growing 24% [14] - International Commercial net premiums written were flat, with International Property growing 23% [16] Market Data and Key Metrics Changes - Global Commercial net premiums written growth was 1% year-over-year when excluding divestitures [14] - North America Financial Lines declined 4% year-over-year, indicating a challenging market environment [15] - International Financial Lines experienced a 5% decline [16] Company Strategy and Development Direction - The company aims for a 10% plus ROCE post-deconsolidation of Corebridge, with a focus on underwriting excellence and disciplined capital management [32] - AIG Next initiative is expected to generate approximately $500 million in annual run rate savings by the end of 2025 [33] - The company is committed to reducing its ownership stake in Corebridge and exploring strategic alternatives for maximizing long-term value [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to deliver sustained profitability and improve combined ratios [32] - The competitive environment is conducive for growth, particularly in excess and surplus lines, despite challenges in financial lines [54] - The company anticipates continued financial improvement driven by higher earned premiums and lower loss ratios [19] Other Important Information - The AIG Board approved an 11% increase in the quarterly common stock dividend to $0.40 per share [11] - The company returned over $2.4 billion to shareholders through stock repurchases and dividends [11] - AIG's total debt was reduced to $9.8 billion, a decrease of over $12 billion since the end of 2021 [29] Q&A Session Summary Question: Regarding inorganic opportunities and capital management expectations - Management confirmed commitment to the outlined capital management structure, indicating that while inorganic opportunities are not a priority, they are not ruled out if compelling [52] Question: Competitive environment relative to growth - Management noted that while the market is challenging, there are still opportunities for growth, particularly in specialty and casualty lines, despite some noise in premium written [54] Question: Timeline for Corebridge deconsolidation - Management expects to finalize the Corebridge deconsolidation by the end of the second quarter, subject to market conditions [58] Question: Share count target and Corebridge impact - The share count target of 550 million to 600 million includes expectations for future sell-downs of Corebridge shares [60] Question: Reinsurance strategy and capital usage - Management is comfortable taking more net risk but emphasizes a strategic approach to reinsurance to control volatility and improve underwriting results [66]

Core Insights - American International Group (AIG) reported $12.47 billion in revenue for Q1 2024, a year-over-year increase of 0.8% and a surprise of +3.57% over the Zacks Consensus Estimate of $12.04 billion [1] - The earnings per share (EPS) for the same period was $1.77, compared to $1.63 a year ago, resulting in an EPS surprise of +6.63% over the consensus estimate of $1.66 [1] Financial Metrics - Combined Ratio for Total General Insurance was 89.8%, better than the estimated 90.7% [2] - Expense Ratio for Total General Insurance was 31.8%, compared to the average estimate of 32% [2] - Loss Ratio for Total General Insurance was 58%, slightly better than the average estimate of 58.7% [2] - Combined Ratio for International - Commercial Lines was 83.6%, outperforming the four-analyst average estimate of 87.9% [2] - Adjusted Revenue for Life and Retirement - Net investment income was $2.65 billion, exceeding the estimate of $2.64 billion and representing a +16.2% change year-over-year [2] - General Insurance - Net premiums earned were $5.79 billion, slightly below the estimate of $5.80 billion, reflecting a year-over-year decline of -7.6% [2] - Adjusted Revenue for Group Retirement was $689 million, compared to the estimate of $693.39 million, showing a +0.9% change year-over-year [2] - Adjusted Revenue for Life Insurance was $1.21 billion, below the average estimate of $1.28 billion, indicating a -2.8% change year-over-year [2] - Adjusted Revenue for Institutional Markets was $2.33 billion, significantly above the estimate of $1.62 billion, representing a +19.3% change year-over-year [2] - Adjusted Revenue for Life and Retirement - Premiums was $2.36 billion, exceeding the estimate of $1.73 billion, with a +7.3% change year-over-year [2] - Adjusted Revenue for Life and Retirement - Policy fees was $714 million, slightly below the estimate of $722.40 million, with a +2.3% change year-over-year [2] - Adjusted Revenue for Individual Retirement was $1.69 billion, matching the estimate and showing a +13.6% change year-over-year [2] Stock Performance - AIG shares have returned -3.5% over the past month, compared to the Zacks S&P 500 composite's -4.1% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Press Release Contacts: www.aig.com Quentin McMillan (Investors): quentin.mcmillan@aig.com Claire Talcott (Media): claire.talcott@aig.com AIG Reports Strong First Quarter 2024 Results ■ Net income per diluted share was $1.74 and adjusted after-tax income* (AATI) per diluted share was $1.77 ■ General Insurance underwriting income increased 19% year-over-year to $596 million, or 67% on a comparable basis*† ■ General Insurance adjusted pre-tax income (APTI) increased 9% year-over-year to $1.4 billion, or 27% o ...

In its upcoming report, American International Group (AIG) is predicted by Wall Street analysts to post quarterly earnings of $1.68 per share, reflecting an increase of 3.1% compared to the same period last year. Revenues are forecasted to be $12.04 billion, representing a year-over-year decrease of 2.7%.The current level reflects an upward revision of 0.8% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? American International Group (AIG) , which belongs to the Zacks Insurance - Multi line industry, could be a great candidate to consider.This insurer has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 8.22%.For the most recent quarter, American Int ...

Monty Rakusen/DigitalVision via Getty Images American International Group (NYSE:AIG) is a well-known insurance company, for many because of the days of the 2008 Financial Crisis. Yet, it's still here, and things can change with time. I was curious to see if that made it a worthwhile investment in 2024. The market sure seems to believe in it. AIG 1Y Price History (Seeking Alpha) It's up over 48% in the past year! After taking a look, I found myself agreeing, and I'll review AIG's improvements and why, even a ...

Key PointsThese three stocks rise on product demand from the latest breakouts in the construction and housing sectors.Institutions rate them as a Buy, and analysts think EPS could soar above the rest of the industry. Price action indicates momentum is present, giving Main Street a leg up to Wall Street's thinking.5 stocks we like better than RayonierInvestors often follow the latest trends in the U.S. economy and attempt to align their portfolios with the best industries, some of which could have a breakout ...

Product diversification helps Zacks Multiline Insurance industry players lower concentration risk, ensure uninterrupted revenue generation and improve retention ratio. Better pricing, prudent underwriting, increased exposure and faster economic recovery should benefit MetLife Inc. (MET) , American International Group Inc. (AIG) , Prudential Financial Inc. (PRU) , The Hartford Financial Services Group (HIG) and Assurant Inc (AIZ) . Accelerated digitalization will help in the smooth functioning of the industr ...