Home Insurance AIG releases Q3 monetary outcomes

AIG releases Q3 monetary outcomes

AIG releases Q3 monetary outcomes


Q3 2022

Q3 2021

Internet earnings attributable to AIG widespread shareholders

$2.7 billion

$1.7 billion

Adjusted pre-tax earnings

$725 million

$1.1 billion

Internet funding earnings

$2.7 billion

$3.7 billion

Adjusted after-tax earnings attributable to AIG widespread shareholders

$509 million

$837 million


Of the adjusted pre-tax earnings, $750 million got here from common insurance coverage whereas life & retirement contributed $589 million. Each figures symbolize a decline from the third quarter of 2021.

As for the adjusted after-tax earnings attributable to AIG widespread shareholders, the slide was attributed to the smaller internet funding earnings. In comparison with Q3 final yr, AIG’s complete consolidated internet funding earnings fell 28% primarily as a consequence of decrease various funding earnings, decrease name and tender earnings, and decrease returns from honest worth choice fairness securities.

Zaffino’s camp, however, is happy with the quarterly monetary outcomes.

“AIG had one other very sturdy quarter of monetary efficiency, pushed by our profitable execution of strategic priorities, and highlighted by the preliminary public providing of Corebridge, one other main accomplishment by our workforce, in addition to continued worthwhile underwriting outcomes and decreased volatility on the whole insurance coverage,” stated the CEO.

“These outcomes are much more spectacular when seen towards the backdrop of a difficult macro-economic setting and one of many largest insured-loss hurricanes in US historical past.”

AIG’s Q3 underwriting earnings from common insurance coverage grew from $20 million in 2021 to $168 million this time round. Of the quantity, $607 million got here from the corporate’s worldwide operations whereas North America took a beating within the type of a $439 million underwriting loss.

“The sturdy efficiency on the whole insurance coverage demonstrates the advantages of the high-quality work we’ve got accomplished to rework our international portfolio and implement a best-in-class reinsurance program, which collectively have dramatically decreased volatility,” famous Zaffino.