AIG’s General Insurance Q3 Underwriting Income Down 29%

Third quarter 2026 underwriting income in American International Group’s (AIG) General Insurance segment decreased nearly 30% compared with the prior year, to $564 million.

Insurance financial results for Q3 included catastrophe losses of $283 million, and increase over the $100 million AIG absorbed during Q3 2025. AIG said catastrophe losses were driven by severe convective storms in North America.

Results for Q3 also included less favorable net prior year development, net of reinsurance, of $91 million versus $180 million a year ago during the same time.

The combined ratio for the General Insurance unit—which includes North America commercial, international commercial, and global personal—was 91.3 compared with 86.83 last year. The segment’s loss ratio was up 4.8 points to 60.7. Catastrophe losses added 4.4 points to the loss ratio.

Net premiums written were up 7% to $6.7 billion in Q3, driven by international commercial and global personal insurance segments. NPW in these businesses increased 13% and 6%, respectively.

“Despite a more challenging market environment, we maintained strong underwriting performance,” said AIG President and CEO Eric Anderson, in a statement. “Compared to the same nine-month period last year, we delivered double-digit top-line growth in premiums, exceeded $2 billion in underwriting income, and improved the combined ratio 140 basis points to 89.2.”

Underwriting income in North America commercial was $167 million, down 57% compared with Q3 2025. NPW increased 2% to about $2.5 billion, mostly from retail casualty and financial lines, AIG said. Excluding North America property lines, North America commercial NPW increased 6% from Q3 2025.

Global personal booked Q3 2026 underwriting income of $114 million, up 44% from a year ago. The segment’s combined ratio improved to 93.2 from 95.2 for Q3 2026.