• It's like MetLife, but also a major global provider of property and casualty insurance.
• It's like a global Allstate, but with a large life insurance and retirement products division.

Major Services of American International Group (AIG)

• Commercial Property & Casualty Insurance

  Provides businesses with coverage for property damage, operational liabilities, and various business interruption risks.

• Specialty Insurance

  Offers tailored insurance solutions for niche industries and complex risks, including aviation, marine, energy, and political risk.

• Financial Lines Insurance

  Provides coverage for management liability (D&O), professional indemnity (E&O), cyber risk, and other financial exposures for companies.

• Personal Insurance

  Offers a range of insurance products, including homeowners, automobile, and excess liability, primarily for high-net-worth individuals.

American International Group (AIG) is a global insurance organization that serves a vast and diverse customer base across both business-to-business (B2B) and business-to-consumer (B2C) segments. Due to the nature of its insurance and retirement solutions business, AIG does not have a small number of "major" named corporate customers in the traditional sense, nor does it sell primarily to individuals in a way that excludes its significant commercial operations. Instead, it serves broad categories of clients.

AIG's major customer categories include:

1. Individual Consumers: This category encompasses individuals and families seeking various forms of personal protection and financial security. This includes customers purchasing personal auto insurance, homeowners insurance, travel insurance, individual life insurance policies, and annuities for retirement savings and income.
2. Commercial Businesses and Corporations: This category includes a wide spectrum of enterprises, from small and medium-sized businesses (SMBs) to large multinational corporations. These customers purchase a comprehensive range of commercial insurance solutions, including property, casualty, liability, professional liability, marine, aviation, energy, construction, and other specialty coverages across diverse industries (e.g., technology, manufacturing, financial services, healthcare, transportation).
3. Institutional Clients and Employers: This category primarily consists of employers (both corporate and public sector) who partner with AIG to provide group retirement plans and solutions for their employees. It also includes other financial institutions or fiduciaries that utilize AIG's investment management and financial products.

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Peter Zaffino, Chairman & Chief Executive Officer

Peter Zaffino has over 35 years of experience in the insurance and reinsurance industry. He joined AIG in 2017 as Global Chief Operating Officer, became Chief Executive Officer in 2021, and was appointed Chairman of the Board of Directors in 2022. Prior to joining AIG, Mr. Zaffino held executive leadership roles at Marsh & McLennan Companies (MMC), where he served as Chairman of MMC's Risk and Insurance businesses, Chief Executive Officer of Marsh, and President & Chief Executive Officer of Guy Carpenter. Before his time at MMC, he held senior roles within GE Capital, specializing in alternative risk reinsurance.

Sabra Purtill, Executive Vice President and Chief Financial Officer

Sabra Purtill is the Executive Vice President and Chief Financial Officer of AIG, a role she assumed in January 2023. She initially joined AIG in 2019 as Deputy Chief Financial Officer and Treasurer, later serving as Chief Risk Officer from 2021-2022, and as Chief Investment Officer of Corebridge Financial. Before her tenure at AIG, Ms. Purtill held senior leadership positions in Finance and Investor Relations at The Hartford Financial Services Group, Inc. She also served as Managing Director, Investor Relations & Communications at Assured Guaranty Ltd. and as a Corporate Finance Officer at ACE Limited (now Chubb Limited), where she led the initial public offering of Assured Guaranty Ltd. Her career began in corporate finance at Chase Manhattan Bank, N.A.

Rose Marie Glazer, Executive Vice President, General Counsel

Rose Marie Glazer serves as Executive Vice President, General Counsel for AIG. Her appointment as General Counsel was noted in November.

Claude Wade, Executive Vice President, Chief Digital Officer, Head of Global Business Operations and IT

Claude Wade holds the position of Executive Vice President, Chief Digital Officer, and Head of Global Business Operations and IT at AIG.

Roshan Navagamuwa, Executive Vice President, Chief Information Officer

Roshan Navagamuwa is the Executive Vice President and Chief Information Officer at AIG, a role he assumed in 2024.

• Climate Change Impact: The increasing frequency and severity of natural catastrophes (e.g., wildfires, hurricanes, floods) globally pose a clear emerging threat. This directly impacts AIG's General Insurance segment through higher claims payouts, increased volatility in underwriting results, challenges in accurate risk modeling and pricing, and potential pressure on reinsurance markets. The ability to profitably underwrite property and casualty risks in increasingly climate-affected regions is being significantly challenged.
• Insurtech Disruption and Data-Driven Competition: The proliferation of agile Insurtech startups and technologically advanced competitors leveraging artificial intelligence, big data analytics, and automation is an emerging threat. These companies can offer more personalized products, streamlined customer experiences, and potentially lower operating costs, pressuring traditional insurers like AIG on market share, pricing power, and the need for significant investment in digital transformation and modernization of legacy systems.

American International Group (AIG) operates primarily in two main product and service areas: General Insurance (Property and Casualty) and Life & Retirement.

General Insurance (Property & Casualty)

• Global Market: The global property and casualty insurance market was valued at approximately USD 3.97 trillion in 2024 and is projected to reach about USD 8.81 trillion by 2034. Another estimate places the global market at USD 1.8 trillion in 2023, expected to grow to USD 2.62 trillion by 2030.
• North America Market: The North America property and casualty insurance market was sized at approximately USD 1.27 trillion in 2024 and is anticipated to reach around USD 2.86 trillion by 2034. North America held the largest revenue share in the global market, accounting for 30.2% in 2023 and 43.99% in 2024. The U.S. property and casualty insurance market specifically was estimated at USD 890 billion in 2024 and is projected to reach approximately USD 2.02 trillion by 2034.

Life & Retirement

• Global Life Insurance Market: The global life insurance market was estimated at USD 7.55 trillion in 2024 and is predicted to grow to approximately USD 18.03 trillion by 2034. Another source states the global life insurance market is projected to grow from USD 4.57 trillion in 2024 to USD 4.97 trillion in 2025, reaching USD 8.84 trillion by 2032.
• North America Life & Retirement Market: The North American life insurance market had total gross written premiums of USD 758.8 billion in 2022. The market generated a revenue of USD 552.435 billion in 2020 and is expected to reach USD 917.335 billion by 2027. North America accounted for the largest revenue share in the global life insurance market in 2024, at 32%. The pension/annuity segment within the North American life insurance market accounted for USD 456.3 billion in gross written premiums in 2022, representing 60.1% of the market's overall value.

For AIG's standalone technology-enabled subsidiary, market size information for its addressable market is null, as it enhances the other core businesses rather than having a distinct external product market.

American International Group (AIG) is expected to drive future revenue growth over the next two to three years through several key initiatives and market trends:

1. Expansion in Global Commercial Lines: AIG anticipates continued robust growth within its Global Commercial Lines, especially in North America Commercial, focusing on casualty and excess lines. The company has demonstrated strong new business generation and high retention rates in these segments, indicating a solid foundation for ongoing revenue expansion.

2. Increased Net Investment Income: AIG's investment strategy focuses on reallocating assets towards higher-yield fixed maturities and private credit, which, combined with a favorable interest rate environment, is expected to boost net investment income. This has already contributed to a significant increase in net investment income year-over-year.

3. Strategic Acquisitions and Investments: Recent strategic moves, such as investments in Convex Group, a global specialty insurer, and Onex Corporation, a global asset manager, are poised to expand AIG's international presence and underwriting capabilities. Additionally, the acquisition of renewal rights for a majority of Everest Group's global retail commercial insurance portfolios, representing substantial aggregate premiums, is expected to directly enhance its revenue base.

4. Enhanced Operational Efficiency and Digital Transformation: Through initiatives like "AIG Next" and the adoption of advanced technologies such as GenAI, AIG aims to improve operational efficiencies, streamline processes, and increase submission rates. These efforts contribute to revenue growth by strengthening competitive advantage, improving underwriting discipline, and enhancing the conversion of potential business.

5. Targeted Growth in Specific Product Niches: AIG has identified and is pursuing significant growth opportunities in targeted areas, including Programs, Western World, and Excess Casualty. This focused approach on specific, high-potential product lines is expected to contribute to specialized revenue expansion within its insurance offerings.

Share Repurchases

• AIG returned approximately $6 billion to shareholders year-to-date through Q3 2025, including approximately $1.25 billion in Q3 2025 and $2.2 billion in Q1 2025.
• In the first half of 2025, AIG completed $4 billion in share buybacks, with an additional $467 million repurchased from July 1 to August 1, 2025.
• A new share repurchase program of up to $7.5 billion was authorized, effective April 1, 2025, which includes approximately $3.4 billion remaining under the prior authorization.

Share Issuance

• AIG reduced its ownership of Corebridge Financial common stock to 22.7% as of December 31, 2024, generating aggregate gross proceeds of $6.0 billion through various sale transactions.
• In Q3 2025, AIG's ownership of Corebridge common stock was further reduced to 15.5% due to the sale of shares for aggregate proceeds of approximately $1 billion.
• A secondary offering of 32.6 million Corebridge Financial shares by AIG, representing about $1.0 billion in gross proceeds, was expected to close on November 6, 2025.

Inbound Investments

• Blackstone Group acquired a 9.9% stake in AIG's life and retirement unit (Corebridge Financial) for $2.2 billion in cash in July 2021.
• AIG partnered with private equity firm Stone Point Capital to form a new independent managing general agent (MGA) called Private Client Select Insurance Services (PCS), which began producing business in Q3 2023.

Outbound Investments

• On October 30, 2025, AIG announced strategic minority investments, including a 35% equity interest in Convex Group Limited for approximately $2.1 billion.
• AIG also acquired a 9.9% ownership stake in Onex Corporation for approximately $646 million and committed up to $2.0 billion to Onex investment funds over three years.
• On October 27, 2025, AIG agreed to acquire the renewal rights for a majority of Everest Group's global retail commercial insurance portfolios, representing approximately $2 billion of aggregate premium.

Capital Expenditures

• AIG is actively deploying generative AI across its operations, partnering with Palantir and Anthropic, to accelerate underwriting and improve risk selection.
• The AIG Next Program, aimed at simplifying the company and integrating operations, is expected to fully realize $500 million in savings in 2025.