American International Group, Inc. New
American International Group, Inc. is a U.S.-based global insurance group organized around commercial and personal lines written through its operating subsidiaries and network partners. It provides property, casualty, financial lines, specialty, and accident & health insurance to customers in more than 200 countries and jurisdictions.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueCommercial and industrial property coverage, business interruption, and package policies for catastrophe exposures.
General liability, workers' compensation, auto liability, excess casualty, and custom risk-sharing programs.
Professional liability products such as D&O, E&O, employment practices, fiduciary, cyber, and related coverages.
Marine, aviation, energy-related property, political risk, trade credit, and trade finance insurance.
Group personal accident, business travel, and supplemental health products for individuals and organizations.
Customers
AIG sells to a mix of multinational corporations, middle-market businesses, small and medium-sized enterprises, and individual customers. Its commercial lines are typically purchased through brokers, agents, advisors, marketplaces, and other distributors, while personal lines and accident & health products also reach group and corporate buyers.
Buy property, casualty, financial lines, and specialty programs to transfer large, complex risks across jurisdictions.
Buy commercial insurance packages, liability, and specialty cover to protect operating assets and revenue.
Buy tailored commercial products and local-market solutions distributed through brokers and partners.
Buy accident & health and personal accident coverage for travel, supplemental health, and employer-sponsored protection.
Buy D&O, E&O, fiduciary, cyber, and crime-related cover for management and professional liability.
Strategy
AIG's strategy centers on underwriting discipline, growth in profitable commercial lines, and portfolio diversification across geographies and product categories. It also emphasizes reinsurance, strategic distribution relationships, and capital management to support the insurance balance sheet and allocate capital where returns are most attractive.
Improves portfolio mix toward businesses with stronger underwriting economics and client demand.
Insurance profitability depends on pricing risk adequately and controlling loss severity and frequency.
Catastrophe, reserve, and large-loss swings can distort results in property-casualty insurance.
Access to brokers, agents, and partners is critical to premium growth and retention.
Geography
AIG underwrites insurance across North America and international markets, with operations spanning the United States, Canada, Bermuda, Japan, the United Kingdom, Europe, the Middle East and Africa, Asia Pacific, Latin America and the Caribbean, and China. Its business model depends on local licenses, multinational fronting and partner networks, so underwriting discipline and claims handling must be adapted to different legal, regulatory, and catastrophe environments.
Risks
AIG is exposed to underwriting risk, reserve volatility, catastrophe losses, and pricing pressure typical of property-casualty insurers, with added complexity from multinational operations and specialty risks. Its results can also be affected by distributor concentration, regulatory change, technology/cyber threats, and foreign exchange or geopolitical shocks in its non-U.S. business.
- Underpriced risk and reserve inadequacyImpact: HighLikelihood: High
Insurance pricing and loss reserving depend on uncertain claims frequency, severity, and development patterns.
Exposure - Catastrophe and large-loss volatilityImpact: HighLikelihood: High
Natural catastrophe and man-made events can create sudden claim spikes and reinsurance needs.
Exposure: Property and specialty portfolios
- Foreign operations and geopolitical exposureImpact: HighLikelihood: Medium
A substantial portion of business is written outside the U.S., exposing AIG to currency, sanctions, and regulatory shocks.
Exposure: International Commercial and Global Personal
- Distributor concentrationImpact: MediumLikelihood: High
Reliance on brokers and third parties can reduce control over product placement and terms.
Exposure: Commercial distribution channels
- Technology and cyber disruptionImpact: MediumLikelihood: Medium
Insurance operations depend on critical systems, data integrity, and secure processing of policy and claims information.
Exposure
Accounting
Judgemental itemsReserve estimates determine ultimate claim costs and can change materially with new information.
Impact: Affects underwriting income, liabilities, and cash flow timing
The value of ceded losses depends on counterparty performance and coverage disputes.
Impact: Affects balance-sheet asset valuation and loss volatility
Investment assets and certain liabilities are marked using valuation techniques and market inputs.
Impact: Affects investment income, unrealized gains/losses, and equity
Recovery of tax assets depends on future taxable income and tax law outcomes.
Impact: Affects tax expense and reported equity
Premium revenue is recognized over the policy term rather than when cash is received.
Impact: Creates timing differences between written and earned premium
Similar listed companies
Publicly listed companies with a comparable business focus.
International General Insurance Holdings Ltd.
IGIC · Insurance Carriers, NEC
American Financial Group, Inc
AFG · Fire, Marine & Casualty Insurance
The Hartford Insurance Group, Inc
HIG · Fire, Marine & Casualty Insurance
American National Group Inc.
ANG-PD · Life Insurance
Axis Capital Holdings Limited
AXS · Fire, Marine & Casualty Insurance
Aegon Ltd. New York Registry Shares
AEG · Life Insurance
Last updated: 28/09/2026