Second quarter 2026 underwriting income in American International Group’s (AIG) General Insurance segment increased nearly 10% compared with the prior year, to $686 million.
Insurance financial results for Q2 included catastrophe losses of $210 million, and increase over the $170 million AIG absorbed during Q2 2025. AIG said catastr
ophe losses during Q2 include $75 million net losses related to the conflict in the Middle East.
Q2 also included favorable net prior year development of $145 million versus $112 million in Q2 2025.
The combined ratio for the General Insurance unit—which includes North America commercial, international commercial, and global personal—was 89 compared with 89.3 a year ago.
CEO Eric Anderson, who took over Peter Zaffino (now executive chair) on June 1, said in a statement that AIG’s results “demonstrate our ability to perform well in the current market, which has transitioned from an exten
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ded phase of broad positive pricing into a more selective environment, where profitability and growth are increasingly dependent on line-specific dynamics.”
“The breadth of our underwriting expertise and the diversity of our global portfolio remain important competitive advantages, allowing us to continue to pursue targeted growth in the segments where we expect to achieve the most attractive risk-adjusted returns,” he added.
Underwriting income in North America commercial was $372 million for Q2, compared with $301 million the prior year. Net premiums written increased 9% to about $3.1 billion. The combined ratio here improved to 84 from 85.9 last year during the quarter.
Global personal booked Q2 2025 underwriting income of $114 million, well above last year’s total of $25 million last year. Net premiums written were up 7% and the segment’s combined ratio improved from 98.5 to 92.9.
Meanwhile, international commercial recorded underwriting income of $200 million, down 33% over the same quarter last year.
Overall Q2 net income attributable to AIG shareholders was down to $948 million compared with about $1.1 billion a year ago. AIG said decrease was due to its investments in Corebridge and equity security. AIG said it sold its remaining interest in Corebridge, 25 million shares of common stock, for a gain of about $710 million.