| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 6.7K | 2.0% |
| Total Income | 6.7K | 2.0% |
| Expenditure | 5.7K | 2.8% |
| PBT | 987.00 | 2.8% |
| Net Profit | 763.00 | 9.3% |
| OPM | — | |
| NPM | 11.47% | 1.18pp |
| EPS | 1.42 | 20.3% |
AIG Reports Excellent Q1 2026 Results: Adjusted After-Tax Income Up 80%
03 May 2026 · 3 May, 6:13 pm
Summary
American International Group, Inc. reported strong financial results for the first quarter ended March 31, 2026. Net income per diluted share was $1.41, a 22% increase year-over-year, and adjusted after-tax income per diluted share was $2.11, an 80% increase year-over-year. General Insurance net premiums written increased by 24% to $5.6 billion, and underwriting income more than tripled to $774 million. AIG returned $760 million to shareholders through share repurchases and dividends, and the Board approved an 11% increase in the quarterly dividend.
Key Highlights
- 1
AIG's net income per diluted share increased by 22% year-over-year to $1.41 in the first quarter of 2026.
- 2
Adjusted after-tax income per diluted share rose by 80% year-over-year to $2.11 for the quarter.
- 3
General Insurance net premiums written increased by 24% year-over-year to $5.6 billion on a reported basis.
- 4
General Insurance underwriting income more than tripled, increasing by 219% year-over-year to $774 million.
- 5
The General Insurance combined ratio improved by 850 basis points year-over-year to 87.3%.
- 6
AIG returned $760 million of capital to shareholders, including $519 million in share repurchases and $241 million in dividends during the quarter.
- 7
The Board of Directors declared a cash dividend of $0.50 per share on AIG common stock, an 11% increase from prior quarterly dividends.
Management Comments
Peter Zaffino
AIG entered 2026 with significant momentum and delivered outstanding first quarter results, highlighting the strength of our underwriting capabilities and sustained earnings momentum across our businesses. The adjusted after-tax income per diluted share was $2.11 for the quarter, an 80% increase year-over-year, and Core Operating ROE was 12.2%. We delivered impressive top-line growth with net premiums written increasing 24% year-over-year on a reported basis or 18% on a constant dollar basis. North America Commercial increased 36% year-over-year, International Commercial increased 12% and Global Personal increased 11%, all on a constant dollar basis. All three segments performed exceptionally well, supported by our recent strategic transactions, favorable January 1 reinsurance renewal outcomes and profitable organic growth. Underwriting income for the first quarter more than tripled year-over-year to $774 million. The calendar year combined ratio was 87.3%, an improvement of 850 basis points year-over-year. The accident year combined ratio, as adjusted, was 86.6%, an improvement of 120 basis points year-over-year. We continue to execute against a disciplined capital management strategy, maintaining a strong balance sheet and returning capital to shareholders. During the quarter, we returned $760 million of capital to shareholders, including $519 million of share repurchases and $241 million of dividends. On April 30, the AIG Board of Directors approved an 11% increase in our quarterly dividend to $0.50 per share starting in the second quarter of 2026, the fourth consecutive year of double-digit percentage increases, reflecting confidence in the long-term outlook of AIG. Looking ahead, we are confident in our ability to navigate an increasingly complex global risk landscape while continuing to deliver disciplined, profitable growth, and we remain on track to meet or exceed the financial objectives that we outlined at our Investor Day in March 2025. Our ability to consistently deliver strong financial results while positioning AIG for long-term success is a direct result of our incredible colleagues around the world and their extraordinary effort, commitment and capacity to execute.
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