VALUATION HIGHLIGHTS

1. General Insurance constitutes 95% of the Trefis price estimate for AIG's stock.

WHAT HAS CHANGED?

Latest Earnings

AIG reported Q2 2025 results that were better than expected. Revenue came in at $6.84 billion, representing a year-over-year increase of 3%, while EPS stood at $1.81, up from $1.16 in the year-ago period.

Divesting life insurance assets

AIG has been divesting its life and retirement business over the past few years and shifting its focus towards the property and casualty business. In 2022, the insurer rebranded its Life insurance segment as Corebridge Financial and initiated its separation through an initial public offering (IPO), selling approximately 20% of Corebridge's shares. By 2024, AIG had reduced its ownership stake in Corebridge to below 50%.

POTENTIAL UPSIDE & DOWNSIDE TO TREFIS PRICE

Below, we look at the key drivers for AIG, including potential upsides or downsides to AIG's stock price.

• North America Commercial Net Premiums Earned North America Commercial Net Premiums Earned rose from $9.25 billion in 2020 to $10.2 billion in 2023. The metric declined to $8.2 billion in 2024. Trefis expects North America Commercial Net Premiums Earned to rise to about $9.3 billion by 2031. However, if the metric grows to about $11 billion, we could see a 6% upside to our price estimate

BUSINESS SUMMARY

American International Group, Inc. (AIG) is a leading provider of property and casualty insurance products such as workers' compensation, automobile liability, general liability, etc. AIG has a global presence in nearly 200 countries and jurisdictions through its operations, licenses, and authorizations as well as network partners, but its primary markets are the U.S., Europe, and Japan.