AIG reported general insurance underwriting income of $564m for the third quarter of 2026, down 29% from $793m a year earlier, in results published on 3 November. The combined ratio rose to 91.3% from 86.8%. Net income attributable to shareholders rose to $844m from $519m, helped by investment fair-value changes, but adjusted after-tax income fell to $2.06 per share from $2.20.
Catastrophe charges were $283m, or 4.4 loss ratio points, mainly from severe convective storms in North America, against $100m a year earlier. Favourable prior-year reserve development fell to $91m from $180m. Excluding catastrophes and prior years, the accident-year combined ratio was 88.4%, almost unchanged from 88.3%.
Net premiums written rose 7% to $6.65bn, or 8% at constant exchange rates; excluding North America property lines, growth was 10% on a constant-dollar basis. The units moved in different directions. North America Commercial grew only 2%, with lower production in some property lines, and its combined ratio rose to 92.9% from 82.6% as its underwriting income fell to $167m from $384m. International Commercial grew 13% to $2.39bn with a combined ratio of 88.3%. Global Personal grew 6%, led by high net worth and accident and health business, and improved its combined ratio to 93.2% from 95.2%.
General insurance net investment income rose 9% to $1.0bn. AIG returned $787m to shareholders through buybacks and dividends in the quarter.
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American International Group (SEC Form 8-K) ↗Company · 3 Nov 2026
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