AIG Q3 2022 Earnings Report
Key Takeaways
AIG reported a strong third quarter, highlighted by the Corebridge IPO and continued profitable underwriting in General Insurance. Pre-tax income from continuing operations was $3.8 billion, up from $2.2 billion in the prior year quarter. Net income attributable to AIG common shareholders was $2.7 billion, or $3.50 per diluted common share, compared to $1.7 billion, or $1.92 per diluted common share, in the prior year quarter.
AIG completed the Corebridge IPO in mid-September.
General Insurance accident year combined ratio, ex-CATs improved by 210 basis points to 88.4%.
Life and Retirement premiums and deposits increased by 23% to $8.9 billion.
AIG returned $1.5 billion to shareholders through share repurchases and dividends.
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Forward Guidance
AIG remains well-positioned to continue to drive excellence, deliver improving returns and create long-term value to our shareholders and other stakeholders.