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American International Group Inc. (AIG+0.80%) has filed its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details AIG's financial performance, including a decrease in net premiums written to $23.9 billion from $26.7 billion in the previous year, attributed to the sales of AIG Re and Crop Risk Services, Inc.
Net investment income increased to $4.3 billion, driven by higher yields on available-for-sale fixed maturity securities and dividends from Corebridge.
AIG reported a net loss attributable to common shareholders of $1.4 billion, down from a net income of $3.6 billion in 2023, primarily due to the deconsolidation of Corebridge and increased income tax expenses.
The company's General Insurance segment saw underwriting income decrease to $1.9 billion, with a combined ratio of 91.8, impacted by higher catastrophe losses and unfavorable prior year reserve development.
AIG's total assets were reported at $161.3 billion, with shareholders' equity at $42.5 billion. The company repurchased $6.6 billion in common stock during the year.
The report also discusses AIG's regulatory environment, highlighting the impact of interest rate changes and currency volatility on its operations.
AIG continues to focus on underwriting excellence, reinsurance optimization, and profitable growth across its global operations.
The filing includes a comprehensive discussion of AIG's risk management strategies and the regulatory challenges it faces in the insurance industry.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the American International Group Inc. annual 10-K report dated February 13, 2025. To report an error, please email earnings@qz.com.