b73c45215fff20b3c6e6ab5d817dc2af7caeefb5981f81bccff126d41db9b47d

Cash and Cash Equivalents [USD, Millions]

Accounts Receivable [USD, Millions]

Short-term Debt [USD, Millions]

Long-term Debt [USD, Millions]

Shareholders' Equity [USD, Millions]

Retained Earnings [USD, Millions]

Common Stock [USD, Millions]

Additional Paid-in Capital [USD, Millions]

23fdc4fa90dfb46609074b1b9820c3b8f60bfac6915471593e2930d666903887

Total Revenue [USD, Millions]

Cost of Goods Sold (COGS) [USD, Millions]

Selling, General, and Administrative Expenses (SG&A) [USD, Millions]

Research and Development (R&D) [USD, Millions]

Depreciation and Amortization (D&A) [USD, Millions]

Interest Expense [USD, Millions]

Operating Income (EBIT) [USD, Millions]

Net Income [USD, Millions]

Earnings Per Share (EPS) - Basic [USD]

Earnings Per Share (EPS) - Diluted [USD]

08eca1479ed62d3be052b6adc980e6eb4b1ece2172a060bb08e713efd2f102ed

General Insurance

- North America

- International

U.S.

Europe

Japan

Other

Asia Pacific

Other Foreign

Americas

EMEA

Total Adjusted Revenue

Total Revenue

41e69bf61c9073c7c1073352fd4d03b62db389a647d9d361918d3e14310805a6

AIG’s cash dropped sharply in Q2 2024 due to a combination of factors. While operating activities contributed **$1,449 million** in positive cash, significant negative impacts from investing activities—particularly **$(4,171) million** from discontinued operations that, when netted with **$2,875 million** from continuing operations, resulted in a **$(1,296) million** overall outflow—played a major role. Additionally, financing activities led to an outflow of **$(148) million**, and the effect of exchange rate changes reduced cash by **$(66) million**. Together, these factors resulted in a net decrease in cash and restricted cash, explaining the sharp decline in Q2 2024.  **[0000005272-24-000079_aig-20240630.htm:9]** 

Why did Cash drop so sharply in Q2 2024?

The drastic decline in **Total Assets** in Q2 2024 was primarily caused by the **deconsolidation of Corebridge Financial**. On June 9, 2024, AIG relinquished its majority representation on Corebridge’s board, leading to Corebridge being classified as discontinued operations and its assets and liabilities being removed from AIG’s consolidated balance sheet. This accounting treatment resulted in a significant reduction in the reported total assets, as Corebridge's investments and cash totaling **$236 billion** were reclassified and excluded from continuing operations.  **[AIG_3395893_8]** **[0000005272-24-000079_aig-20240630.htm:5]** **[0000005272-24-000079_aig-20240630.htm:3]** 

What caused the drastic decline in Total Assets in Q2 2024?

The documents indicate that the **lower long-term debt in Q2 2024** is related to net outflows from the issuance and repayment of debt amounting to **$463 million**, which contributed to the reduction from **$10,375 million** at the end of 2023 to **$9,861 million** in Q2 2024.  **[0000005272-24-000079_aig-20240630.htm:3]** **[0000005272-24-000079_aig-20240630.htm:125]**  However, the documents do not provide a detailed explanation beyond these figures, though they do note that additional financial activities, such as stock repurchases and dividends, might have also played a role.  **[0000005272-24-000079_aig-20240630.htm:125]** 

Why is Long-term debt significantly lower in Q2 2024?

The dramatic drop in **Total investments** for Q2 2024 was driven by the **deconsolidation of Corebridge**. This accounting treatment led to a reclassification of Corebridge’s assets, liabilities, and net income into the discontinued operations category, effectively moving approximately **$236 billion** of Corebridge investments and cash out of the reported total investments.  **[AIG_3395893_8]** 

What drove the dramatic drop in Total investments in Q2 2024?

The near-disappearance of the Debt of consolidated investment entities in Q2 2024 is primarily explained by the **consolidation of previously unconsolidated partnerships**, which led to a significant reduction in the reported debt. Specifically, the debt dropped from **$231 million** as of December 31, 2023, to **$79 million** as of June 30, 2024, indicating the effect of this consolidation process.  **[0000005272-24-000079_aig-20240630.htm:127]** 

How do you explain the near-disappearance of Debt of consolidated investment entities in Q2 2024?

f0137fb8ca6e46a4fd3c5728328dce6e1a4edecdbd3e39ba5508bf388d45c3e9

Adjustments for Non-Cash Items [USD, Millions]

Stock-Based Compensation [USD, Millions]

Changes in Working Capital [USD, Millions]

Capital Expenditures (CapEx) [USD, Millions]

Proceeds from / Repayments of Debt [USD, Millions]

Share Repurchases [USD, Millions]

Dividend Payments [USD, Millions]

Net Change in Cash [USD, Millions]

365e740e5bd1e4b67423e7ca6d497a0cdf29a72da4a0d3f5799fb7635fce7899

326a2f35382d4eb00b5cfe0b54a3c7917206501649e772aef281c96716dbf096

463879aed582f9d77780401b99b970befe1f47c73b6803554f0a0a2fbcb7e342

AIG’s operating cash flow was significantly lower in Q4 2024 due to a combination of factors. The company reported a **net loss of $926 million** compared to a net income in the previous period, which directly depressed cash flows. In addition, there were notable changes in operating assets and liabilities—such as a smaller increase in insurance reserves and a net decline in premiums and other receivables/payables—that further reduced cash inflows. Moreover, **higher capitalization of deferred policy acquisition costs** and adverse movements in reinsurance assets compounded the negative effect on operating cash flow, alongside lower unrealized gains and other non-cash adjustments.  **[0000005272-25-000012_aig-20241231.htm:164]** **[0000005272-25-000004_q42024earningsrelease.htm:1]** 

Why was Operating Cash Flow so low in Q4 2024?

The steep decline in **Net Income** in Q2 2024 was primarily driven by several key factors. **Corebridge Deconsolidation** had a major impact, with a **$4.7 billion loss** recorded, reflecting not only gains from retained assets but also a significant comprehensive loss on the deconsolidated stake.  **[0000005272-24-000075_q22024earningsrelease.htm:3]**  Additionally, there was a substantial shift in **discontinued operations**, where a loss of **$4,359 million** in Q2 2024 contrasted sharply with a previous income of **$850 million** in Q2 2023.  **[0000005272-24-000079_aig-20240630.htm:5]** **[0000005272-24-000079_aig-20240630.htm:89]**  The decline was further compounded by **lower underwriting income** due to business divestitures and an increase in **catastrophe losses of $325 million**  **[AIG_3395893_10]** **[0000005272-24-000075_q22024earningsrelease.htm:3]** , along with **higher general operating expenses** and an increase in **income tax expense**.

What drove the steep decline in Net income in Q2 2024?

AIG’s available-for-sale securities purchases turned positive in Q2 2024 largely because of a significant reduction in the amounts purchased across key categories—including Non-U.S. government bonds, Corporate debt, and CLO/ABS—and a strategic shift influenced by the deconsolidation of Corebridge Financial. These factors, combined with changing market conditions and a renewed focus on portfolio management, contributed to moving the net figure into positive territory in Q2 2024.  **[0000005272-24-000079_aig-20240630.htm:28]** 

Why did Purchases of Available for sale securities flip to a positive value in Q2 2024?

cfc94b6748a2b6d17ca345fa8e8c021066fb0f245de30f0051f16de68318821c

04de1785f0dab263fe7ca2c163e91a47da037cd83c5d7989a9b247a56e01c6ba

American International Group Inc (AIG)

Financials