AIG(US:AIG)2023-08-02 16:13Financial Performance - AIG reported an After-Tax Income per Diluted Share (GAAP) of $203, a decrease of 41% compared to 2Q22[4] - Adjusted After-Tax Income (AATI) was $13 billion, a 15% increase compared to $11 billion in 2Q22[4] - The General Insurance combined ratio was 909%, a 35 percentage point increase compared to 2Q22[4] - AIG returned $822 million to shareholders through $554 million of common stock repurchases and $268 million of common and preferred stock dividends in 2Q23[4] Strategic Initiatives - AIG announced the sale of Validus Reinsurance, Ltd to RenaissanceRe, expected to close in 4Q23[4] - AIG raised $12 billion through a secondary offering of 7475 million Corebridge shares at $1625 per share, reducing AIG's ownership to 653%[4] - AIG closed the sale of its Crop Risk Services business to American Financial Group, Inc[4] - AIG formed Private Client Select, a Managing General Agency partnership with Stone Point Capital LLC for the U S High-Net-Worth Personal Insurance Book[5] General Insurance - General Insurance net premiums written (NPW) increased by 10% to $7537 million in 2Q23 from $6866 million in 2Q22[20] - Commercial Lines NPW increased by 14% to $5633 million in 2Q23 from $4955 million in 2Q22[21]