Key Highlights

  • General Insurance net premiums written reached USD 6.7 billion, up 7% reported and 8% on a constant dollar basis.
  • General Insurance combined ratio was 91.3%, and the accident year combined ratio excluding catastrophes was 88.4%.
  • Net income was USD 1.60 per share, adjusted EPS was USD 2.06, and core operating ROE was 11.1%.
  • AIG returned USD 787 million to shareholders through USD 527 million of Buybacks and USD 260 million of dividends.

Premium Growth and Underwriting

American International Group, Inc. (NYSE:AIG) reported third-quarter 2026 General Insurance net premiums written of USD 6.7 billion, up 7% on a reported basis and 8% at constant dollars. Global Commercial grew 7% and Global Personal grew 9% on a constant dollar basis. Excluding North America Property, constant dollar growth was 10%, which shows that the property book held back the total.

Underwriting income in General Insurance was USD 564 million, and accident year Underwriting income excluding catastrophes was USD 756 million. The calendar year combined ratio was 91.3% and the accident year combined ratio excluding catastrophes was 88.4%. President and Chief Executive Officer Eric Andersen said the company maintained underwriting performance in the current market environment.

Analyst estimates were EPS of USD 1.88 against reported EPS of USD 2.06, and Revenue of USD 7.42 billion against reported revenue of USD 7.51 billion.

Earnings, Returns and Book Value

Net income per diluted share was USD 1.60, while adjusted after-tax income was USD 1.1 billion, or USD 2.06 per diluted share. Return on Equity was 8.5% and core operating ROE was 11.1% for the quarter, compared with 11.4% for the first nine months of 2026. General Insurance net Investment income was USD 1.0 billion, an increase of 9% from a year earlier.

Book value per share was USD 74.96, a decrease of 1% year over year. Adjusted Book Value per share was USD 81.25, an increase of 5%.

Nine-Month View and Capital Return

Across the first nine months of 2026, the company reported double-digit growth in premiums and Underwriting income above USD 2 billion. The combined ratio improved 140 basis points to 89.2%, and the accident year combined ratio excluding catastrophes improved 50 basis points to 87.7%. Andersen said the company continues to make progress toward the financial objectives set out at its 2025 Investor Day.

In the quarter AIG returned USD 787 million of capital to shareholders, made up of USD 527 million of share repurchases and USD 260 million of dividends.

At September 30, 2026, the total Debt to total capital ratio was 20.8% and the total debt to total adjusted capital ratio was 19.6%.

The board declared a quarterly cash Dividend of USD 0.50 per share on November 3, 2026. Catastrophe-related charges were USD 283 million, or 4.4 loss ratio points, driven by severe convective storms in North America, versus USD 100 million, or 1.6 points, in the prior-year quarter.

Measures to Follow Next

Observers can follow premium growth outside North America Property, the gap between calendar and accident year ratios and the pace of buybacks against book value per share. The company also has to show that the improvement in the nine-month combined ratio carries into the final quarter of 2026, when catastrophe activity can move the calendar year result.