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Mar 31, 2023
AIG Q1 2023 Earnings Report
AIG navigated a complex environment, delivering excellent first-quarter results, demonstrating the ability to deliver high-quality outcomes, grow the business, manage volatility, and improve profitability.
Key Takeaways
AIG reported strong first-quarter results with General Insurance net premiums written increasing by 5% year-over-year. The combined ratio improved to 91.9%, and underwriting income exceeded $500 million. The Life and Retirement business (Corebridge Financial, Inc.) also had a strong quarter, with premiums growing 159% to $2.2 billion.
General Insurance net premiums written increased 5% year-over-year.
Combined ratio was 91.9% and the accident year combined ratio, ex-CAT, was 88.7%.
Underwriting income was over $500 million, representing the strongest first quarter underwriting results AIG has achieved.
Life and Retirement premiums grew 159% to $2.2 billion.
AIG
AIG
Forward Guidance
The environment AIG operates in is continually shifting and remains volatile and unpredictable.