AMERICAN INTERNATIONAL GROUP (AIG) Company Report

Chairman & CEO Peter Zaffino will transition to Executive Chair of AIG’s Board and retire as CEO by mid-2026.
Insurance veteran Eric Andersen will join AIG as President and CEO-elect on February 16, 2026, and is expected to assume the CEO role and Board seat after June 1, 2026.
Zaffino’s amended compensation for 2026 sets a $25 million target direct package as CEO and $15 million as Executive Chair; Andersen’s initial target direct compensation is $14 million for 2026, increasing to $18 million upon becoming CEO.

Jan 6, 2026, 10:26 PM

8-K

AIG plans midyear CEO succession

AIG

CEO Change

Management Change

Peter Zaffino will retire as CEO by mid-2026 and transition to executive chairman, remaining on the board to support the handoff.
Eric Andersen, a nearly 30-year veteran of Aon, will join AIG as president and CEO-elect on Feb. 16, 2026, and assume the CEO role after June 1, 2026.
AIG highlighted Zaffino’s tenure since 2021 for delivering improved profitability, a strengthened balance sheet and greater financial flexibility.
The board described the move as an orderly succession aimed at positioning AIG for long-term, profitable growth under Andersen’s leadership.

Jan 6, 2026, 12:49 PM

Bloomberg

Helus Pharma Commences Nasdaq Trading and Advances Pipeline

AIG

Delisting/Listing Issues

Helus Pharma begins trading on Nasdaq under ticker HELP, transferring its U.S. listing from NYSE American and maintaining its Cboe Canada listing.
The company is transforming into a commercial-stage pharmaceutical firm, building on its Cybin Inc. foundation with over 350 filed patents and preparing to commercialize HLP003.
Pipeline update: HLP003 is in Phase 3 for adjunctive major depressive disorder with Breakthrough Therapy Designation, and HLP004 is in Phase 2 for generalized anxiety disorder, with topline data expected in Q1 2026.

Jan 5, 2026, 12:30 PM

Press Release

AIG forms SPV Syndicate 2479 with Amwins and Blackstone and partners with Palantir for GenAI underwriting

AIG

New Projects/Investments

Product Launch

AIG, Amwins and Blackstone will form Syndicate 2479 at Lloyd’s, commencing underwriting $300 million of premiums from January 1, 2026, backed by capital commitments from Amwins and Blackstone.
The SPV’s initial portfolio mirrors Amwins’ $6 billion of delegated authority premiums and will be managed by Talbot Underwriting Limited on behalf of AIG.
AIG is collaborating with Palantir to deploy GenAI capabilities—leveraging Palantir Foundry, multiple LLM agents, and a proprietary ontology accessing over 4 million industry data points—to enhance portfolio analysis and underwriting precision.

Dec 18, 2025, 10:49 PM

Press Release

AIG to acquire full control of AG Insurance in €1.9 billion deal

AIG

M&A

AIG’s parent Ageas will buy the remaining 25% stake in AG Insurance from BNP Paribas for €1.9 billion, giving it full ownership of Belgium’s largest insurer.
The acquisition will be funded via cash reserves, existing financing and a €1.1 billion share placement, after which BNP Paribas Cardif will hold a 22.5% stake in Ageas.
The deal renews the exclusive bancassurance partnership between AG Insurance and BNP Paribas’s Belgian subsidiary for 15 years, starting in 2027.
Ageas has raised its 2027 free cash flow target to €2.6 billion (from €2.3 billion) and expects shareholder remuneration to increase to €2.2 billion (from €2.0 billion).
The transaction is expected to close in Q2 2026, with BNP Paribas forecasting an €820 million net capital gain and a €40 million annual net income boost.

Dec 8, 2025, 6:08 AM

WSJ

AIG Cancels President Appointment

AIG

Management Change

Hiring

AIG and John Neal have mutually agreed to cancel his scheduled appointment as president effective December 1, 2025, due to personal circumstances.
Neal, formerly CEO of Lloyd’s of London, was set to oversee AIG’s general insurance division, encompassing North America commercial, international commercial, and global personal insurance.
AIG’s chairman and CEO Peter Zaffino will continue collaborating with the board to define the company’s future organizational structure.
The announcement comes as AIG maintains a $42.28 billion market capitalization, a 0.23 debt-to-equity ratio, and robust profitability margins with an 11.9% net margin and 31.89% EBITDA margin amid declining revenue growth.

Nov 14, 2025, 11:29 AM

Morningstar

AIG reports Q3 2025 results and strategic investments

AIG

Earnings

M&A

Share Buyback

AIG delivered adjusted after-tax income per diluted share of $2.20 (up 77% y/y) and adjusted after-tax income of $1.2 billion (up 52% y/y), driven by strong general insurance performance; underwriting income rose to $793 million (up 81% y/y) and net investment income increased to $1 billion (up 15% y/y).
General insurance gross premiums written were $8.7 billion (up 1% y/y); the accident year combined ratio as adjusted remained 88.3% (16th consecutive quarter below 90%), and the calendar year combined ratio improved to 86.8% (580 bps better y/y).
Announced three strategic transactions: acquiring a 35% stake in Convex Group, a 9.9% stake in Onyx Corporation with a $2 billion commitment over three years, and renewal rights to Everest’s ~$2 billion P&C portfolio for $300 million (with up to $70 million adjustment).
Returned $1.5 billion of capital in Q3 through $1.25 billion of share repurchases and $250 million of dividends; YTD repurchases total $5.3 billion, reducing shares outstanding to ~544 million and lifting book value per share to $75.45.
Year-to-date core operating ROE was 10.9%, on track for the 10–13% target; expense ratio progressing toward sub-30% by 2027, and GenAI underwriting tools being deployed to accelerate data-driven decisioning.

Nov 5, 2025, 1:30 PM

Transcript

AIG reports Q3 2025 earnings results

AIG

Earnings

AIG posted $1.622 billion adjusted pre-tax income and $519 million net income for Q3 2025, up from $1.075 billion and $459 million, respectively, in Q3 2024.
The General Insurance segment delivered $1.738 billion adjusted pre-tax income, driven by $945 million net investment income and $793 million underwriting income, with a 55.9% loss ratio in the quarter.
Book value per share was $75.45, tangible book value per share $68.48, and AIG common shareholders’ equity stood at $41.085 billion as of September 30, 2025.
Return on equity was 5.0% on a reported basis and 11.6% adjusted, reflecting improved profitability compared to both the prior quarter and year-ago period.

Nov 5, 2025, 1:30 PM

Presentation

AIG reports Q3 2025 results

AIG

Earnings

M&A

Share Buyback

AIG delivered adjusted after-tax EPS of $2.20 (up 77% YoY) and $1.2 billion of adjusted after-tax income, with underwriting income of $793 million (+81% YoY) and net investment income of $1 billion (+15% YoY). The accident year combined ratio was 88.3% (16th consecutive sub-90%) and the calendar year combined ratio improved to 86.8% (580 bps YoY).
Announced strategic investments including a 35% equity stake and escalating quota share in Convex Group, a 9.9% equity interest in Onyx Corporation with a $2 billion commitment over three years, and purchase of renewal rights for roughly $2 billion of Everest portfolios for $300 million.
Continued disciplined capital management by returning $1.5 billion to shareholders in Q3—$1.25 billion in share repurchases and $250 million in dividends—bringing YTD repurchases to $5.3 billion, reducing Corebridge ownership to ~15.5%, maintaining an 18% debt-to-capital ratio, and lifting book value per share 6% to $75.45.
Strengthened portfolio yields with General Insurance net investment income of $945 million (+22% YoY), an average new-money yield of 4.58%, alternative investment income of $137 million (13.6% yield), and raised private credit to $6.4 billion (8% of GI assets) targeting 12–15% over time.

Nov 5, 2025, 1:30 PM

Transcript

AIG reports Q3 2025 financial and strategic update

AIG

Earnings

M&A

AIG delivered adjusted after-tax EPS of $2.20, up 77% year-over-year, with adjusted after-tax income of $1.2 billion (+52%) and an accident year combined ratio of 88.3% for Q3 2025.
North America commercial insurance net premiums written were flat (or +3% ex-casualty closeout), driven by growth in programs (+27%) and Excess Casualty (+8%).
AIG agreed to acquire a 9.9% equity stake in Onex Corporation and to invest $2 billion over three years in its asset management platform, leveraging Onex’s $56 billion AUM and insurance-sector expertise.
The company purchased renewal rights to ~$2 billion of Everest’s retail P&C portfolios for $300 million (with up to $70 million downward adjustment), without assuming prior liabilities.