American International Group (AIG)
Underwrites global commercial, specialty, and personal property-and-casualty risks.
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AIG sells insurance mainly to businesses around the world, with a smaller personal-insurance arm and a large pool of invested money behind the policies. Having shed its life-and-retirement business, it is becoming a more focused insurer while adding customers through renewal deals, partner insurers and faster in-house technology.
Item facts: FY2025 · year ended Dec 31, 2025, from filings, earnings calls and company pages.
Judgment weights, not filed revenue
The band summarizes business focus and direction. ~ marks estimates.
7 in detail · 17 more below
North America Commercial
Insurance for North American companies contributed $8.626B of coverage payments in FY2025. New business is growing again, but weaker property pricing makes careful risk selection the watchpoint.
Competes with North America Major Accounts (Chubb) · Large Business Insurance (Travelers)
In plain English
Picture the risks around a factory, office tower or delivery fleet: fire, storm damage, lawsuits, worker injuries and mistakes by company leaders. AIG chooses which of those risks to cover for businesses in the United States, Canada and Bermuda, then sets a price meant to cover future claims and leave something over.
Companies usually buy through insurance brokers, who bring AIG opportunities and receive commissions. AIG gets paid before many claims arrive, so success depends on charging ahead of rising repair and legal costs while avoiding losses that are too large or too concentrated.
International Commercial
Overseas companies supplied $8.580B of coverage payments in FY2025, almost matching North America. Property and marine business are now leading growth; disasters, currencies and cross-border claim handling can change the outcome.
Competes with Multinational Insurance (Chubb) · International Programs (Zurich)
In plain English
A company with a warehouse in one country, a ship in another and staff scattered across several more does not want a pile of unrelated policies. This arm arranges one coordinated insurance program, using AIG companies and the Lloyd's market to provide cover where each local law requires it.
The customer pays to protect property, cargo and other business risks; brokers help place the deal and local insurers issue the pieces. AIG keeps the portion of the price that matches the risk it retains. The hard part is making the pieces work together when laws, currencies or sanctions differ from country to country.
Everest Renewal Rights Portfolio
AIG can bid for renewals from a $1.8B pool of Everest business policies without inheriting the old claims. Early retention was about 75%; the test is how much attractive business customers and brokers actually move.
Competes with North America Major Accounts (Chubb) · Commercial Insurance portfolio (Zurich)
In plain English
This is closer to buying a shop's customer list than buying the shop. As selected Everest business policies expire, AIG gets the chance to offer replacement coverage, but the customers and their brokers can still say no. Crucially, Everest keeps responsibility for claims from the old policies.
AIG earns only when it approves a risk, wins the renewal and the new policy begins. Everest receives a price linked to the business that moves, plus fees. The arrangement can add substantial premiums without an acquisition's inherited claims and employees, but its value rests on retention and on AIG refusing risks that are priced too cheaply.
Strategic Partnerships with Convex and Onex
For FY2026, AIG takes 7.5% of Convex's insurance business, due to reach 12.5% in FY2028. Convex's claim results and the returns Onex earns on AIG's allocations determine whether the partnership pays.
Competes with Specialty Insurance portfolio (Beazley) · Global Specialty portfolio (Zurich)
In plain English
Instead of building every new branch itself, AIG has bought stakes in two partners. Convex is a specialist insurer; Onex is an investment manager. With Convex, AIG receives an agreed slice of policy payments and owes the same slice of covered claims. With Onex, AIG supplies money for the manager to invest.
That creates two income paths: more insurance volume from Convex and investment returns through Onex. The shares are scheduled to grow over several years, so the arrangement is still ramping. AIG also carries the downside if Convex's claims disappoint or Onex's investments perform poorly.
AIG Assist
AIG's in-house software cut quote time by 55% for one Lexington property team. It can turn more broker requests into decisions, but it earns no software sales and still depends on accurate data and human judgment.
Competes with Risk Digitization Platform (Cytora) · UnderwritingCenter (Guidewire)
In plain English
The inbox used to be the bottleneck. Brokers send huge packs of documents asking whether AIG will insure a business, and staff must pull out the important details before deciding on a price. AIG Assist uses computer models to read and sort that material, then puts the useful pieces in front of a person.
It is a factory tool, not a product customers buy. Faster sorting lets the same team answer more brokers, issue quotes sooner and spend more time judging difficult risks. The money appears through additional policies and lower handling cost, provided the system stays accurate, secure and under human control.
Global Personal
Households and group programs contributed $6.472B of coverage payments in FY2025. The business is growing again, but it barely cleared its claims and running costs, making better pricing and fewer losses essential.
Competes with Masterpiece (Chubb) · PURE Programs (Privilege Underwriters)
In plain English
Here AIG protects people rather than companies: expensive homes and cars, collections, accidents, supplemental health costs, phones and household warranties. Some customers buy through a specialist broker; others receive coverage through an employer, retailer or another group they already use.
Each household or sponsor pays a relatively small amount compared with a possible fire, crash or medical claim. Pool enough customers and the many payments should cover the unlucky few who suffer losses. Recently that cushion was thin, so this arm's job is not simply to add policies; it must lift prices and control claims faster than catastrophe and repair costs rise.
General Insurance Investment Portfolio
Investing money held for future claims added a net $3.013B in FY2025. Its job is to add steady income while staying ready for claims; interest rates, borrower trouble and forced sales are the watchpoints.
Competes with Investment Portfolio (Chubb) · Fixed-Income Portfolio (Travelers)
In plain English
Insurance money does not sit idle between a customer's payment and a later claim. AIG lends much of it to governments and companies by buying bonds, choosing repayment dates that roughly match when claim checks may need to go out. It is like keeping the emergency fund on a ladder of timed savings accounts rather than under a mattress.
Interest from those holdings becomes a second source of revenue alongside insurance payments. AIG can also gain or lose when investments are sold. The aim is dependable income, not a separate product sold to customers, and safety matters because the portfolio must keep supplying cash even after disasters or years-old lawsuits come due.
North America CommercialInsurance for North American companies contributed $8.626B of coverage payments in FY2025. New business is growing again, but weaker property pricing makes careful risk selection the watchpoint.Insurance for North American companies contributed $8.626B of coverage payments in FY2025. New business is growing again, but weaker property pricing makes careful risk selection the watchpoint.
In plain English
Picture the risks around a factory, office tower or delivery fleet: fire, storm damage, lawsuits, worker injuries and mistakes by company leaders. AIG chooses which of those risks to cover for businesses in the United States, Canada and Bermuda, then sets a price meant to cover future claims and leave something over.
Companies usually buy through insurance brokers, who bring AIG opportunities and receive commissions. AIG gets paid before many claims arrive, so success depends on charging ahead of rising repair and legal costs while avoiding losses that are too large or too concentrated.
Competes with North America Major Accounts (Chubb) · Large Business Insurance (Travelers)
International CommercialOverseas companies supplied $8.580B of coverage payments in FY2025, almost matching North America. Property and marine business are now leading growth; disasters, currencies and cross-border claim handling can change the outcome.Overseas companies supplied $8.580B of coverage payments in FY2025, almost matching North America. Property and marine business are now leading growth; disasters, currencies and cross-border claim handling can change the outcome.
In plain English
A company with a warehouse in one country, a ship in another and staff scattered across several more does not want a pile of unrelated policies. This arm arranges one coordinated insurance program, using AIG companies and the Lloyd's market to provide cover where each local law requires it.
The customer pays to protect property, cargo and other business risks; brokers help place the deal and local insurers issue the pieces. AIG keeps the portion of the price that matches the risk it retains. The hard part is making the pieces work together when laws, currencies or sanctions differ from country to country.
Competes with Multinational Insurance (Chubb) · International Programs (Zurich)
Everest Renewal Rights PortfolioAIG can bid for renewals from a $1.8B pool of Everest business policies without inheriting the old claims. Early retention was about 75%; the test is how much attractive business customers and brokers actually move.AIG can bid for renewals from a $1.8B pool of Everest business policies without inheriting the old claims. Early retention was about 75%; the test is how much attractive business customers and brokers actually move.
In plain English
This is closer to buying a shop's customer list than buying the shop. As selected Everest business policies expire, AIG gets the chance to offer replacement coverage, but the customers and their brokers can still say no. Crucially, Everest keeps responsibility for claims from the old policies.
AIG earns only when it approves a risk, wins the renewal and the new policy begins. Everest receives a price linked to the business that moves, plus fees. The arrangement can add substantial premiums without an acquisition's inherited claims and employees, but its value rests on retention and on AIG refusing risks that are priced too cheaply.
Competes with North America Major Accounts (Chubb) · Commercial Insurance portfolio (Zurich)
Strategic Partnerships with Convex and OnexFor FY2026, AIG takes 7.5% of Convex's insurance business, due to reach 12.5% in FY2028. Convex's claim results and the returns Onex earns on AIG's allocations determine whether the partnership pays.For FY2026, AIG takes 7.5% of Convex's insurance business, due to reach 12.5% in FY2028. Convex's claim results and the returns Onex earns on AIG's allocations determine whether the partnership pays.
In plain English
Instead of building every new branch itself, AIG has bought stakes in two partners. Convex is a specialist insurer; Onex is an investment manager. With Convex, AIG receives an agreed slice of policy payments and owes the same slice of covered claims. With Onex, AIG supplies money for the manager to invest.
That creates two income paths: more insurance volume from Convex and investment returns through Onex. The shares are scheduled to grow over several years, so the arrangement is still ramping. AIG also carries the downside if Convex's claims disappoint or Onex's investments perform poorly.
Competes with Specialty Insurance portfolio (Beazley) · Global Specialty portfolio (Zurich)
AIG AssistAIG's in-house software cut quote time by 55% for one Lexington property team. It can turn more broker requests into decisions, but it earns no software sales and still depends on accurate data and human judgment.AIG's in-house software cut quote time by 55% for one Lexington property team. It can turn more broker requests into decisions, but it earns no software sales and still depends on accurate data and human judgment.
In plain English
The inbox used to be the bottleneck. Brokers send huge packs of documents asking whether AIG will insure a business, and staff must pull out the important details before deciding on a price. AIG Assist uses computer models to read and sort that material, then puts the useful pieces in front of a person.
It is a factory tool, not a product customers buy. Faster sorting lets the same team answer more brokers, issue quotes sooner and spend more time judging difficult risks. The money appears through additional policies and lower handling cost, provided the system stays accurate, secure and under human control.
Competes with Risk Digitization Platform (Cytora) · UnderwritingCenter (Guidewire)
Global PersonalHouseholds and group programs contributed $6.472B of coverage payments in FY2025. The business is growing again, but it barely cleared its claims and running costs, making better pricing and fewer losses essential.Households and group programs contributed $6.472B of coverage payments in FY2025. The business is growing again, but it barely cleared its claims and running costs, making better pricing and fewer losses essential.
In plain English
Here AIG protects people rather than companies: expensive homes and cars, collections, accidents, supplemental health costs, phones and household warranties. Some customers buy through a specialist broker; others receive coverage through an employer, retailer or another group they already use.
Each household or sponsor pays a relatively small amount compared with a possible fire, crash or medical claim. Pool enough customers and the many payments should cover the unlucky few who suffer losses. Recently that cushion was thin, so this arm's job is not simply to add policies; it must lift prices and control claims faster than catastrophe and repair costs rise.
Competes with Masterpiece (Chubb) · PURE Programs (Privilege Underwriters)
General Insurance Investment PortfolioInvesting money held for future claims added a net $3.013B in FY2025. Its job is to add steady income while staying ready for claims; interest rates, borrower trouble and forced sales are the watchpoints.Investing money held for future claims added a net $3.013B in FY2025. Its job is to add steady income while staying ready for claims; interest rates, borrower trouble and forced sales are the watchpoints.
In plain English
Insurance money does not sit idle between a customer's payment and a later claim. AIG lends much of it to governments and companies by buying bonds, choosing repayment dates that roughly match when claim checks may need to go out. It is like keeping the emergency fund on a ladder of timed savings accounts rather than under a mattress.
Interest from those holdings becomes a second source of revenue alongside insurance payments. AIG can also gain or lose when investments are sold. The aim is dependable income, not a separate product sold to customers, and safety matters because the portfolio must keep supplying cash even after disasters or years-old lawsuits come due.
Competes with Investment Portfolio (Chubb) · Fixed-Income Portfolio (Travelers)
Named in filings, launches and programs
- Property & Short TailProduct lineCovers buildings, interrupted operations and other company property, including losses that can arrive quickly after catastrophes.
- CasualtyProduct lineHandles liability, company vehicles, worker injuries and other claims that can take years to emerge and settle.
- Financial LinesProduct lineProtects companies and leaders against management, deal, employee, cyber and professional mistakes or wrongdoing.
- Global SpecialtyProduct lineInsures ships, aircraft, energy projects, political disruption and unpaid trade bills that need specialist judgment.
- Global Accident & HealthProduct lineGroup accident, work-travel and extra health coverage paid by employers, sponsors or individuals.
- Personal LinesProduct lineSelected auto and home policies plus warranties for devices, appliances and homes.
- Tata AIG General Insurance Company LimitedEcosystemAIG's 26%-owned Indian insurer serves households and businesses through a broad agent network; its sales do not enter AIG revenue.
- Lexington Insurance CompanyBrandTakes unusual or harder-to-place U.S. business risks that standard insurance markets may decline.
- Western World Insurance CompanyBrandA specialist U.S. business insurer sold through wholesale distributors.
- Glatfelter Insurance GroupBrandBuilds and administers specialist insurance programs for clearly defined types of organizations.
- Talbot Underwriting Ltd.BrandRuns AIG's Lloyd's specialist insurance and insurance-for-insurers business.
- Private Client SelectBrandSells AIG-backed protection for wealthy households' homes, cars, yachts, collections and extra liability.
- AIG Multinational / WorldRiskServiceCoordinates one company's insurance across countries while arranging locally valid policies.
- Syndicate 2478EcosystemA Lloyd's risk-sharing pool operating with Blackstone under a multi-year arrangement since 2025.
- Syndicate 2479EcosystemAn Amwins- and Blackstone-linked Lloyd's pool created with $300M of yearly policy capacity.
- Parametric Cloud Outage SolutionProduct · AnnouncedPlanned U.S. cyber add-on that pays from preset cloud-outage signals rather than waiting for a traditional damage review.
- CVC Strategic PartnershipEcosystem · RampingLets CVC manage private-company investments contributed or allocated by AIG, with planned allocations of up to $2B.
Property & Short TailProduct line
Covers buildings, interrupted operations and other company property, including losses that can arrive quickly after catastrophes.
CasualtyProduct line
Handles liability, company vehicles, worker injuries and other claims that can take years to emerge and settle.
Financial LinesProduct line
Protects companies and leaders against management, deal, employee, cyber and professional mistakes or wrongdoing.
Global SpecialtyProduct line
Insures ships, aircraft, energy projects, political disruption and unpaid trade bills that need specialist judgment.
Global Accident & HealthProduct line
Group accident, work-travel and extra health coverage paid by employers, sponsors or individuals.
Personal LinesProduct line
Selected auto and home policies plus warranties for devices, appliances and homes.
Tata AIG General Insurance Company LimitedEcosystem
AIG's 26%-owned Indian insurer serves households and businesses through a broad agent network; its sales do not enter AIG revenue.
Lexington Insurance CompanyBrand
Takes unusual or harder-to-place U.S. business risks that standard insurance markets may decline.
Western World Insurance CompanyBrand
A specialist U.S. business insurer sold through wholesale distributors.
Glatfelter Insurance GroupBrand
Builds and administers specialist insurance programs for clearly defined types of organizations.
Talbot Underwriting Ltd.Brand
Runs AIG's Lloyd's specialist insurance and insurance-for-insurers business.
Private Client SelectBrand
Sells AIG-backed protection for wealthy households' homes, cars, yachts, collections and extra liability.
AIG Multinational / WorldRiskService
Coordinates one company's insurance across countries while arranging locally valid policies.
Syndicate 2478Ecosystem
A Lloyd's risk-sharing pool operating with Blackstone under a multi-year arrangement since 2025.
Syndicate 2479Ecosystem
An Amwins- and Blackstone-linked Lloyd's pool created with $300M of yearly policy capacity.
Parametric Cloud Outage SolutionProduct · Announced
Planned U.S. cyber add-on that pays from preset cloud-outage signals rather than waiting for a traditional damage review.
CVC Strategic PartnershipEcosystem · Ramping
Lets CVC manage private-company investments contributed or allocated by AIG, with planned allocations of up to $2B.