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olivLaw · US equity research

American International Group, Inc. AIG

Fire, Marine & Casualty Insurance · SIC 6331 · Vertical: Fire, Marine & Casualty Insurance (SIC 6331)

81.71USD+1.47% · 1 dayClose 04 Nov 2026

American International Group is a global commercial and personal insurer that operates through three General Insurance segments and is known for underwriting strength. In the second quarter of 2026 it reported net premiums written growth of 9 percent and a combined ratio of 89.0 percent, keeping underwriting profitability at the center of investor attention.

The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).

At the close of 04 Nov 2026, American International Group, Inc. (AIG) stock was 81.71 USD (+1.47% on the day), with market capitalisation 42.4 bn USD, P/E 13.3 on diluted EPS of 6.14 USD over the last 12 months, dividend yield 2.33%, beta 0.40, 52-week range 71.89–86.59 USD. Latest reported quarter (Q3 2026): revenue of 7.4 bn USD (+17.2% YoY), net income of 849.0 m USD (+63.6% YoY), diluted EPS 1.60 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
42.4 bn USD
shares as of 29 Oct 2026
P/E (TTM)
13.3
Diluted EPS TTM 6.14 · TTM to 30 Sept 2026
E/P (TTM)
7.51%
TTM to 30 Sept 2026
Dividend yield
2.33%
DPS 12m 1.90
Beta (2y)
0.40
Volatility (1y) 24%
52-week range
71.8986.59

Price history

Loading chart…

Technical reading

RSI (14)
59.6
strong (55–70)
Bollinger (20, 2)
76.47 – 83.92
in the upper half of the band · %B 0.70 · band width 9.3%
SMA 50 / 200
77.37 / 76.94
uptrend (price > SMA50 > SMA200)
MACD (12, 26, 9)
1.30 / 1.32
MACD below signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 month+8.8%−1.1%+9.9 pp—
3 months+2.0%−0.5%+2.4 pp—
6 months+5.2%+4.4%+0.8 pp—
Year to date−4.5%+12.3%−16.8 pp—
1 year+1.2%+13.5%−12.3 pp+13.7%
3 years+28.2%+76.4%−48.2 pp+58.9%
5 years+38.6%+63.7%−25.1 pp—
Max drawdown (1y)
−17.0%
23 Dec 2025 → 21 Jan 2026
Max drawdown (5y)
−26.9%
06 Jan 2023 → 23 Mar 2023
Compound annual growth (5y)
+6.7%
S&P 500 +10.4%

Price returns, dividends excluded.

Quarterly results

Latest quarter: Q3 2026 · 30 Sept 2026

Revenue
7.4 bn USD
+17.2% YoY
Net income
849.0 m USD
+63.6% YoY
Diluted EPS
1.60
+72.0% YoY
net / operating
11.4% / unavailable

Quarterly margins

Quarterly statements · USD

Fiscal yearQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Revenue7.2 bn6.8 bn7.1 bn6.4 bn6.6 bn6.7 bn7.1 bn7.4 bn
SG&A1.3 bn1.1 bn1.2 bn1.3 bn1.5 bn1.1 bn1.2 bn1.3 bn
Depreciation & amortisation990.0 m866.0 m883.0 m ≈831.0 m ≈875.0 m849.0 m939.0 m ≈972.0 m ≈
Interest expense109.0 m92.0 m100.0 m99.0 m105.0 m100.0 m100.0 m101.0 m
Pre-tax income1.5 bn960.0 m1.5 bn714.0 m661.0 m987.0 m1.3 bn1.1 bn
Income tax599.0 m262.0 m400.0 m190.0 m-70.0 m224.0 m316.0 m270.0 m
Net income898.0 m698.0 m1.1 bn519.0 m735.0 m763.0 m948.0 m849.0 m
Diluted EPS1.43 ≈1.161.980.931.35 ≈1.411.781.60
Operating cash flow125.0 m-56.0 m1.4 bn ≈1.3 bn ≈636.0 m155.0 m1.7 bn ≈2.7 bn ≈
Dividends paid244.0 m234.0 m254.0 m ≈246.0 m ≈242.0 m241.0 m263.0 m ≈260.0 m ≈
Share repurchases1.8 bn2.2 bn1.8 bn ≈1.2 bn ≈584.0 m508.0 m645.0 m ≈529.0 m ≈

≈ derived quarter (cumulative difference / share-days average)

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Today's P/E sits at the 58 percentile of its own 24-quarter history (min 2.7, median 11.9, max 201.4; quarters with earnings only).

Fiscal years

Fiscal year20182019202020212022202320242025
Revenue47.4 bn49.7 bn43.7 bn52.2 bn30.0 bn27.9 bn27.3 bn26.8 bn
Revenue YoY−4.3%+5.0%−12.1%+19.3%−42.5%−6.9%−2.5%−1.7%
Net income-6.0 m3.3 bn-5.9 bn10.4 bn10.2 bn3.6 bn-1.4 bn3.1 bn
Net income YoYunavailableunavailable−277.5%unavailable−1.4%−64.4%−138.5%unavailable
Diluted EPS-0.013.74-6.8811.9512.944.98-2.175.43
Diluted EPS YoYunavailableunavailable−284.0%unavailable+8.3%−61.5%−143.6%unavailable
net %-0.0%6.7%-13.6%19.9%34.1%13.0%-5.2%11.6%
Free cash flow-762.0 m-2.1 bn685.0 m5.9 bn3.9 bn6.0 bnunavailableunavailable

Reported results vs expectations

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Balance sheet & financial health

Fiscal year 2025 · 31 Dec 2025

Cash
1.3 bn USD
Financial debt
9.2 bn USD
Net debt
7.8 bn USD
Equity
41.2 bn USD
Total assets
161.3 bn USD
Debt / equity
0.22x
Current ratio
unavailable
ROE
7.4%
ROA
1.9%
FCF margin
unavailable

Financial statements (source on every figure)

Revenue and net income (USD)

Income statement · USD

Pre-tax income
2023
2.9 bn
2024
3.9 bn
2025
3.9 bn

SEC (XBRL)· 12 Feb 2026verified

Net income
2023
3.6 bn
2024
-1.4 bn
2025
3.1 bn

SEC (XBRL)· 12 Feb 2026verified

Diluted EPS
2023
4.98
2024
-2.17
2025
5.43

SEC (XBRL)· 12 Feb 2026verified

Dividend per share
2023
1.40
2024
1.56
2025
1.75

SEC (XBRL)· 12 Feb 2026verified

Balance sheet · USD

Cash
2023
1.6 bn
2024
1.4 bn
2025
1.3 bn

SEC (XBRL)· 12 Feb 2026verified

Loans
2023
4.4 bn
2024
3.9 bn
2025
2.9 bn

SEC (XBRL)· 12 Feb 2026verified

Total assets
2023
539.3 bn
2024
161.3 bn
2025
161.3 bn

SEC (XBRL)· 12 Feb 2026verified

Short-term debt
2023
250.0 m
2024
—
2025
—

SEC (XBRL)· 14 Feb 2024verified

Long-term debt
2023
10.6 bn
2024
8.9 bn
2025
9.2 bn

SEC (XBRL)· 12 Feb 2026verified

Total liabilities
2023
488.0 bn
2024
118.8 bn
2025
120.1 bn

SEC (XBRL)· 12 Feb 2026verified

Equity
2023
51.3 bn
2024
42.6 bn
2025
41.2 bn

SEC (XBRL)· 12 Feb 2026verified

Cash flow · USD

Dividends paid
2023
997.0 m
2024
1.0 bn
2025
976.0 m

SEC (XBRL)· 12 Feb 2026verified

Share repurchases
2023
3.0 bn
2024
6.7 bn
2025
5.8 bn

SEC (XBRL)· 12 Feb 2026verified

Computed indicators

Growth

Revenue growth (YoY)
-1.7%
computed by olivLawFY 2025
Revenue CAGR 3Y
-3.7%
computed by olivLawFY 2022 → FY 2025
Revenue CAGR 5Y
-9.3%
computed by olivLawFY 2020 → FY 2025
Net income growth (YoY)
unavailable
the base of the ratio is not positive
Net income CAGR 3Y
-32.9%
computed by olivLawFY 2022 → FY 2025
Net income CAGR 5Y
unavailable
the base of the ratio is not positive
EPS growth (YoY)
unavailable
the base of the ratio is not positive
EPS CAGR 3Y
-25.1%
computed by olivLawFY 2022 → FY 2025
EPS CAGR 5Y
unavailable
the base of the ratio is not positive

Profitability

Net margin
11.9%
computed by olivLawTTM to 30 Sept 2026

Returns

ROE
8.2%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
ROA
2.0%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
Payout ratio (EPS)
31.0%
computed by olivLawTTM to 30 Sept 2026

Market and valuation

Market capitalisation
42.4 bn USD
computed by olivLawbalance sheet at 30 Sept 2026
Market cap / net income TTM
12.9x
computed by olivLawTTM to 30 Sept 2026
P/E (TTM)
13.3x
computed by olivLawTTM to 30 Sept 2026
Earnings yield
7.5%
computed by olivLawTTM to 30 Sept 2026
P/B
1.1x
computed by olivLawbalance sheet at 30 Sept 2026
P/S
1.5x
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
Dividend yield
2.3%
computed by olivLawTTM to 30 Sept 2026
Shareholder yield (distributions)
7.7%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026

Insurance

Loss ratio
unavailable
input data missing

32 indicators that do not apply to the sector.

Valuation

olivLaw classification

Neutral profile

Score: 42 / 100

A scoring methodology on indicators and valuation, not investment advice.

Closing price

81.71 USD

04 Nov 2026Source: olivLaw, closing series

Market cap: 42.4 bn USD

Key indicators

Market capitalisation
42.4 bn USD
computed by olivLawbalance sheet at 30 Sept 2026
P/E (TTM)
13.3x
computed by olivLawTTM to 30 Sept 2026
P/B
1.1x
computed by olivLawbalance sheet at 30 Sept 2026
ROE
8.2%
computed by olivLawTTM to 30 Sept 2026 · balance sheet at 30 Sept 2026
Net margin
11.9%
computed by olivLawTTM to 30 Sept 2026
Revenue growth (YoY)
-1.7%
computed by olivLawFY 2025
Dividend yield
2.3%
computed by olivLawTTM to 30 Sept 2026

Coverage and freshness

13/20 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 30 Sept 2026
Latest balance sheet date: 30 Sept 2026
Share count (cover of the latest filing), as of: 29 Oct 2026
Source: SEC (XBRL)published 04 Nov 2026
verified 2225derived 174

Score by group

  • Valuation64
  • Balance sheet61
  • Quality9
  • Growth0
  • Returns81

Estimated value range

Low
55.20
USD per share
Mid
68.52
USD per share
High
74.90
USD per share
Price: 81.71 USD
The price is above the range
Potential to the central value: -16.1% (value / price − 1)
Margin of safety: -19.2% (1 − price / value)
Agreement between methods: medium · 5 methods used · 4 independent bases

The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 23.00 – 185.75 USD.

Valuation assumptions are editorial choices, not measured; beta is not measured.

Method ranges (USD per share)

— — Mid · ▏ Price

Valuation methods

  • Residual income71.64 – 74.90 (Mid 73.24)
  • Justified P/B55.20 – 74.23 (Mid 63.32)
  • Dividend discount (DDM)23.00 – 30.93 (Mid 26.38)
  • Peers: P/E54.95 – 83.49 (Mid 68.52)
    11 companies used · median multiple 11.2x · quartiles 9.0x – 13.6x
    ACGL, ALL, CB, CINF, EG, HIG, L, MKL, PGR, TRV, WRB
  • Peers: P/B107.20 – 185.75 (Mid 146.42)
    11 companies used · median multiple 2.0x · quartiles 1.4x – 2.5x
    ACGL, ALL, CB, CINF, EG, HIG, L, MKL, PGR, TRV, WRB
Multiple comparisons use the SIC vertical: Fire, Marine & Casualty Insurance (SIC 6331)

Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

Assumptions (illustrative, editorial)

Risk-free rate
4.3%
Equity risk premium
5.0%
Beta (default)
1.00
Cost of equity
9.3%
Terminal growth
2.5%

Factor scorecard

Neutral profile · Score 42/100

FactorValueScoreWeight used
ROE · Quality8.2%9 (vs peers)20%
Loss ratio · Qualityunavailableunavailable—
EPS CAGR 3Y · Growth-25.1%0 (on a fixed band)11%
Revenue CAGR 3Y · Growth-3.7%0 (on a fixed band)9%
ROA · Balance sheet2.0%61 (on a fixed band)9%
P/B · Valuation1.1x100 (vs peers)16%
P/E (TTM) · Valuation13.3x27 (vs peers)16%
Dividend yield · Returns2.3%70 (vs peers)11%
Payout ratio (EPS) · Returns31.0%100 (on a fixed band)7%

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet61/100 · 1/1 factors with a value
  • Growth0/100 · 2/2 factors with a value
  • Quality· partial9/100 · 1/2 factors with a value
  • Returns81/100 · 2/2 factors with a value
  • Valuation64/100 · 2/2 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

American International Group, Inc. (AIG). Latest full fiscal year: 2025; data up to 2026-09-30.

Figures computed from the financial statements: YoY growth -1.7%; net margin 11.9%; ROE 8.2%.

The estimated value range is 55.20–74.90 USD per share (median of 5 methods, agreement: medium); assumptions are illustrative. Against the central value of 68.52 USD, the price of 81.71 USD leaves a potential of -16.1% (value / price − 1) and a margin of safety of -19.2% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.

olivLaw score 42/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: quality. Not investment advice.

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • P/B: 1.1x
  • Dividend yield: 2.3%
  • Payout ratio (EPS): 31.0%

What contradicts it

  • ROE: 8.2%
  • EPS CAGR 3Y: -25.1%
  • Revenue CAGR 3Y: -3.7%
  • P/E (TTM): 13.3x
  • The price is above the estimated value range

Not assessed (insufficient data or a ratio without meaning): Loss ratio.

Versus the vertical median

Fire, Marine & Casualty Insurance (SIC 6331) · same industry (4-digit SIC) · compared with 11 companies

Only companies with a capitalisation between 5.4 bn and 347.3 bn (within 8× of the company's); 46 of the vertical were left out.

Multiples and returns vs the median

P/E
13.3x
vertical median 11.2x
above median (+19.2%)
EV/EBITDA
—
vertical median —
P/S
1.5x
vertical median 1.5x
at median
P/B
1.1x
vertical median 2.0x
below median (−44.2%)
ROE
8.2%
vertical median 18.7%
below median (−56.0%)
Net margin
11.9%
vertical median 15.4%
below median (−23.0%)
EBIT margin
—
vertical median —
Revenue YoY
-1.7%
vertical median 6.5%
below median (−126.7%)
Net debt/EBITDA
—
vertical median —
Dividend yield
2.3%
vertical median 1.8%
above median (+27.9%)

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
CBChubb Limited143.0 bn13.115.5%18.2%+6.5%+26% / +63%
PGRProgressive Corp136.0 bn11.833.2%12.7%+16.3%+3% / +43%
TRVTravelers Companies, Inc.83.9 bn10.727.5%17.0%+5.2%+40% / +127%
ALLAllstate Corp66.6 bn6.138.9%16.6%+5.6%+26% / +95%
AIGAmerican International Group, Inc.42.4 bn13.38.2%11.9%−1.7%+1% / +28%
HIGThe Hartford Insurance Group, Inc.36.9 bn8.324.7%15.4%+6.9%+1% / +77%
ACGLArch Capital Group Ltd.36.0 bn9.018.7%23.3%+14.3%+18% / +32%
CINFCincinnati Financial Corporation29.2 bn11.216.9%20.1%+11.4%+14% / +85%
WRBBerkley W R Corp28.5 bn16.219.2%12.5%+7.8%−1% / +59%
MKLMarkel Group Inc.23.9 bn14.19.8%11.4%+4.7%−6% / +36%
LLoews Corp22.6 bn15.48.1%7.9%+5.4%+4% / +59%
EGEverest Group, Ltd.15.6 bn8.912.8%11.7%+1.2%+34% / +3%

1- and 3-year price returns: for AIG from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

Bear
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Base
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Bull
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Nothing is saved.

Estimated price (USD)

Estimated priceBearBaseBull
1 years
45.90
Total return -42% · Per year -42%
81.50
Total return 2% · Per year 2%
123.24
Total return 54% · Per year 54%
3 years
37.50
Total return -49% · Per year -20%
75.56
Total return -1% · Per year -0%
126.43
Total return 63% · Per year 18%
5 years
30.63
Total return -55% · Per year -15%
70.05
Total return -4% · Per year -1%
129.70
Total return 73% · Per year 12%
What moves the 3-year price the most
  • Exit P/E± 18.89
  • Net margin± 13.22
  • Annual revenue growth± 11.78
  • Annual dilution± 1.11

AI analysis

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

Possibly outdated: the newest document it read is from 06 Aug 2026; since then the company filed 10-Q (04 Nov 2026), 8-K (03 Nov 2026 · results), 10-Q (07 Aug 2026).

In brief

American International Group is a global commercial and personal insurer that operates through three General Insurance segments and is known for underwriting strength. In the second quarter of 2026 it reported net premiums written growth of 9 percent and a combined ratio of 89.0 percent 2, keeping underwriting profitability at the center of investor attention.

SWOT

Strengths

  • Global scale, a recognised brand and a diversified portfolio let the company pursue profitable underwriting across several regions and lines 1.
  • Improved financial strength ratings for the main insurance subsidiaries give the company an advantage when competing for large clients 1.
  • Recent quarterly results show good discipline on the combined ratio and steady premium growth in priority segments 2.

Weaknesses

  • Reported results are sensitive to changes in the fair value of investments, which has produced large swings in net income compared with the prior year 2.
  • The international segment saw profitability decline in the second quarter of 2026, and this area remains more exposed to unusual losses 2.
  • Reliance on long-tail lines such as casualty creates high uncertainty in estimating claim reserves 1.

Opportunities

  • Targeted growth in the segments with the best risk-adjusted returns could expand underwriting income if the market stays favourable 2.
  • Partnerships with asset managers and private capital platforms could diversify sources of investment income 1.
  • Integrating acquired portfolios could bring scale benefits and new clients in the retail commercial segment 2.

Threats

  • Softening prices in lines such as property and financial lines could compress margins if rates stop covering claims inflation 2.
  • Catastrophic events and geopolitical conflicts can generate losses that quickly affect quarterly results 2.
  • Changes in liability legislation and court rulings can widen coverage beyond the original policy intent, with effects on reserves 1.

Risks

  • Claim reserve uncertaintyhigh

    Reserve estimates may differ from actual experience, especially in long-tail lines, and changes in loss cost assumptions could affect results 1.

  • Natural catastropheshigh

    Weather and seismic events can produce concentrated losses and sharply reduce underwriting income in a single quarter 1.

  • Pricing pressuremedium

    A more selective market could slow premium growth or compress margins if competition keeps rates under pressure 2.

  • Investment exposuremedium

    Changes in the fair value of stakes and derivatives can produce realised or unrealised losses that affect net income 2.

  • Execution of strategic transactionslow

    Integrating acquisitions, partnerships and investments in private companies carries operational risk and the chance of unmet expectations 1.

Investment thesis

What would need to be true (bull case)

  • If organic growth in selective lines persists and the combined ratio stays below breakeven, adjusted profitability could keep rising 2.
  • The Corebridge exit and the buyback programme could support per-share earnings over the medium term 1.
  • Geographic and line diversity could cushion shocks from a single region or risk type 2.

What would break the thesis

  • If property price pressure spreads to other lines, underwriting margins could fall faster than volume grows 2.
  • Reported results depend on investment fair values, and their swings can mask operating performance 2.
  • Long-tail reserve risk could force significant adjustments if actuarial assumptions prove optimistic 1.

What to watch

  • Trend in the International Commercial combined ratio and the impact of geopolitical lossesQ3 2026
  • Pace of net premium growth in North America Property versus other linesQ3 2026
  • Progress toward the 2025 Investor Day objectives on core operating return2027

Products, market & competition

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

Possibly outdated: the newest document it read is from 06 Aug 2026; since then the company filed 10-Q (04 Nov 2026), 8-K (03 Nov 2026 · results), 10-Q (07 Aug 2026).

The business

AIG is an insurance company based in New York that offers property, casualty and financial lines products, along with personal insurance, to clients ranging from small and medium-sized businesses to multinational companies 1. Its activities are reported through three segments, North America Commercial, International Commercial and Global Personal, plus Other Operations, which mainly consists of net investment income from the AIG Parent liquidity portfolio and Corebridge dividend income 1. In fiscal 2025, net premiums written of about 23.7 billion USD generated underwriting income of 2.3 billion USD 1.

The company's capital structure changed materially in 2025 and 2026 through share repurchases, the sale of its Corebridge stake and strategic acquisitions such as a roughly 2.1 billion USD investment in Convex Group, a privately held specialty insurer 1. Whether these transactions show up as organic growth or only as a larger balance sheet remains to be watched.

For reporting purposes, performance is tracked through adjusted after-tax income and Core Operating ROE, both non-GAAP measures the company uses alongside GAAP results 2.

Segments

North America Commercial

The segment covers operations in the United States, Canada and Bermuda, with property, casualty and financial lines products 1. In the second quarter of 2026, net premiums written rose 9 percent, driven by Retail Casualty and Financial Lines, while Property declined at Lexington 2.

Market context

According to the second quarter 2026 results, the commercial market has moved from an extended phase of broad price increases into a more selective environment in which profitability increasingly depends on line-specific dynamics 2. For AIG, the breadth of its underwriting expertise could support targeted growth if the market continues to reward technical differentiation 2.

The property and catastrophe insurance sector remains exposed to severe natural events, and catastrophe costs affected the company's results in 2025, when losses were lower than in 2024 but still significant 1.

Trends

  • Softening property pricingheadwind

    Rate pressure, particularly in North America Property, has slowed premium growth even as volume held up in other lines, and this could weigh on margins if it spreads 2.

  • Growth in specialty lines and Retail Casualtytailwind

    Organic growth in high-performing segments such as Retail Casualty and Financial Lines supports premium volume, and the advantage could persist if underwriting discipline holds 2.

  • Catastrophe costs and geopolitical conflictsheadwind

    Losses from natural events and the Middle East conflict raised the combined ratio in the international segment, keeping catastrophe risk a source of volatility 2.

  • Redeploying capital into buybacks and dealsmixed

    Share repurchases and dividends have reduced shares outstanding, and strategic investments in partnerships and acquisitions could open new growth if integration proceeds as planned 1.

Competitive position

The global commercial insurance market is competitive, and AIG competes with other large insurers and reinsurers active in the same property, casualty and financial lines 1. The company's advantages lie in its global scale, strong brand and portfolio diversity, but pricing pressure in some lines limits its room to manoeuvre.

Competition intensifies where capacity is abundant, and firms that combine disciplined underwriting with access to capital can gain market share if the market remains selective 2.

  • ChubbCB

    Large global property and casualty insurer that competes directly with AIG in commercial and personal lines.

  • Travelers CompaniesTRV

    American insurer focused on commercial property and casualty, active in the same client categories.

  • Berkshire HathawayBRK.B

    Diversified group that includes property and casualty insurers competing especially in commercial underwriting.

  • Everest GroupEG

    Global insurer and reinsurer from which AIG acquired renewal rights for retail commercial insurance portfolios.

News & filings

In the press

The latest news item in our archive is from 07 Sept 2026; the newest SEC filing is from 04 Nov 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.

SEC filings

  • Quarterly report04 Nov 2026
  • Current report03 Nov 2026
    Results of operations · Other events · Financial statements and exhibits
  • Current report24 Sept 2026
    Other events · Financial statements and exhibits
  • Current report16 Sept 2026
    Departure or appointment of officers
  • Current report02 Sept 2026
    Departure or appointment of officers · Financial statements and exhibits
  • Quarterly report07 Aug 2026
  • Current report06 Aug 2026
    Results of operations · Other events · Financial statements and exhibits
  • Current report14 May 2026
    Departure or appointment of officers · Shareholder vote · Financial statements and exhibits
  • Quarterly report01 May 2026
  • Current report30 Apr 2026
    Results of operations · Other events · Financial statements and exhibits

Sources

  1. [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / American International Group, Inc. · 12 Feb 2026
  2. [2] Form 8-K, results release (exhibit 99.1) · SEC / American International Group, Inc. · 06 Aug 2026

Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.