AIG Reports Third Quarter Results

General insurance contributed US$750 million and life insurance and retirement contributed US$589 million to adjusted pre-tax income. Both numbers represent a decrease from Q3 2021.

Adjusted after-tax income attributable to AIG common stockholders was driven by lower net investment income. Compared to last year’s third quarter, AIG’s total consolidated net investment income decreased 28% primarily due to lower alternative investment income, lower call and tender income and lower income from fair value option stocks.

Despite this, the Zafino camp is happy with the quarterly results.

“Driven by the successful execution of our strategic priorities, AIG is pleased to see continued profitable underwriting results and improved general insurance volatility, in addition to another major achievement for our team, the Corebridge initial public offering. We delivered a very strong quarterly financial performance underscored by a decline,” said the CEO.

“These results are even more impressive against the backdrop of a challenging macroeconomic environment and one of the largest insured loss hurricanes in US history.”

AIG General Insurance underwriting revenues increased to $168 million in the third quarter from $20 million in 2021. Of the amount, US$607 million came from the company’s international operations, and in North America he was hit in the form of an underwriting loss of US$439 million.

“The strong P&C performance is the result of the high-quality efforts we have made to transform our global portfolio and implement a best-in-class reinsurance program,” said Zaffino. has declined substantially,” he said.