$AIG · AMERICAN INTERNATIONAL GROUP, INC.
AIG reported Q3 2026 results via 8-K on November 3, 2026. Net income attributable to common shareholders was $844 million ($1.60/diluted share), up from $519 million ($0.93) in Q3 2025. Adjusted after-tax income per diluted share was $2.06, down from $2.20. General Insurance net premiums written rose 7% to $6.7 billion, while the combined ratio widened to 91.3% from 86.8%. The Board declared a $0.50/share quarterly dividend.
- Net income attributable to AIG common shareholders rose to $844 million ($1.60/diluted share) from $519 million ($0.93) in Q3 2025.
- Adjusted after-tax income per diluted share fell 6.4% YoY to $2.06 from $2.20, missing the prior-year comparable.
- General Insurance net premiums written grew 7% YoY to $6.7 billion, or 8% on a constant dollar basis.
- General Insurance combined ratio deteriorated to 91.3% from 86.8%, driven by higher catastrophe losses ($283M vs. $100M).
- AIG returned $787 million to shareholders via $527 million in share repurchases (~7M shares) and $260 million in dividends.
Extended-hours trading shows AIG at $80.88, up 0.43% from the regular close of $80.53, suggesting the market is weighing strong net income growth and premium expansion against the adjusted EPS decline and combined ratio deterioration.
AIG's diverging GAAP vs. adjusted results — net income up 63% but adjusted EPS down 6.4% — forces investors to parse whether core underwriting momentum is stalling amid rising cat losses.
AIG's 91.3% combined ratio reflects the broader P&C industry pressure from elevated North American severe convective storm activity. The 8% constant-dollar NPW growth, including 13% in International Commercial, signals continued pricing and volume momentum despite a hardening cat environment.
Catastrophe losses spiked to $283 million (4.4 loss ratio points) from $100 million (1.6 points) in Q3 2025, driven by severe convective storms in North America. Favorable prior year development shrank to $91 million from $180 million, reducing a key earnings tailwind.