AMERICAN INTERNATIONAL GROUP (AIG) Company Report

AIG acquired a 35% equity interest in Convex Group for $2.1 billion and a 9.9% stake in Onex Corporation for $642 million.
Onex becomes the majority shareholder in Convex with a 63% ownership interest following the transactions.
AIG will participate in a whole account quota share of Convex’s business beginning January 1, 2026, with increased cessions planned for 2027 and 2028.

3 hours ago

Press Release

AIG participates in Onex acquisition of Convex Group

AIG

M&A

New Projects/Investments

AIG acquired a 35% stake in Convex Group as part of Onex’s $7 billion acquisition, with Onex holding 63%.
As part of the agreement, AIG subscribed to 7.5 million subordinate voting shares (~9.9% of Onex) and committed $2 billion to Onex’s private equity and credit strategies over the next three years.
Convex will become a core platform for Onex, expected to generate meaningful recurring net income and free cash flow; Onex will report Convex’s 2025 results with its Q4 earnings on February 20, 2026.

3 hours ago

Press Release

AIG announces strategic partnership with CVC

AIG

New Projects/Investments

AIG and CVC have formed a strategic partnership to support AIG’s long-term investment objectives by leveraging CVC’s insurance solutions and private markets expertise.
Under the alliance, AIG will be a cornerstone investor in CVC’s private equity secondaries evergreen platform, contributing up to $1.5 billion from its existing private equity portfolio.
AIG also plans to allocate up to $2 billion to CVC-managed separately managed accounts and funds, with an initial $1 billion deployment scheduled through 2026.

Jan 19, 2026, 7:00 AM

Press Release

AIG appoints Eric Andersen as CEO-elect; Zaffino to become Executive Chair

AIG

CEO Change

Management Change

Executive Compensation

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.