AMERICAN INTERNATIONAL GROUP INC

For the period ended Jun 30, 2024. Filed Aug 1, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2024 · Filed Aug 1, 2024

AIG$77.75-3.9%Stored close · as of Nov 6, 2026

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Contents

Other Operations

Other Operations primarily consists of income and expenses from assets, including AIG's ownership of Corebridge, held by AIG Parent and other corporate subsidiaries, deferred tax assets related to tax attributes, corporate expenses and intercompany eliminations, results of our consolidated investment entities, General Insurance portfolios in run-off as well as the historical results of our legacy insurance lines ceded to Fortitude Re.

OTHER OPERATIONS RESULTS

Three Months EndedJune 30, · Six Months EndedJune 30,
(in millions) · 2024 · 2023 · Change · 2024 · 2023 · Change
Adjusted revenues:
Premiums	$(1)	$118	NM	%		$84		$231		(64)		%
Net investment income:
Interest and dividends	148	63	135				247		116		113
Other investment loss	(2)	(8)	75				(16)		(23)		30
Investment expenses	(5)	(3)	(67)				(11)		(8)		(38)
Total net investment income	141	52	171				220		85		159
Other income	4	3	33				4		3		33
Total adjusted revenues	144	173	(17)				308		319		(3)
Benefits, losses and expenses:
Losses and loss adjustment expenses incurred	(4)	113	NM			71		215		(67)
Acquisition expenses	4	14	(71)				12		26		(54)
General operating expenses:
Corporate and Other	185	173	7				343		339		1
Amortization of intangible assets	5	8	(38)				9		18		(50)
Total General operating expenses	190	181	5				352		357		(1)
Interest expense	112	135	(17)				228		265		(14)
Total benefits, losses and expenses	302	443	(32)				663		863		(23)
Adjusted pre-tax loss before consolidation and eliminations	(158)	(270)	41				(355)		(544)		35
Consolidation and eliminations	—	(8)	NM			(1)		(13)		92
Adjusted pre-tax loss	$(158)	$(278)	43		%		$(356)		$(557)		36		%

THREE MONTHS ENDED JUNE 30, 2024 AND 2023 COMPARISON

Adjusted pre-tax loss before consolidation and eliminations of $158 million in 2024 compared to $270 million in 2023, an decrease of $112 million, was primarily due to:

higher net investment income due to dividend income from Corebridge and on AIG Parent portfolio due to higher yields and higher average balance; and

lower interest expense of $23 million primarily driven by interest savings from $2.2 billion debt repurchases, through cash tender offers and debt redemption and maturity in 2023 and 2024.

SIX MONTHS ENDED JUNE 30, 2024 AND 2023 COMPARISON

Adjusted pre-tax loss before consolidation and eliminations of $355 million in 2024 compared to $544 million in 2023, an decrease of $189 million, was primarily due to:

higher net investment income due to dividend income from Corebridge and on AIG Parent portfolio due to higher yields and higher average balance; and

lower interest expense primarily driven by interest savings of $37 million from $2.6 billion debt repurchases, through cash tender offers and debt redemption and maturity in 2023 and 2024.

80	AIG \| Second Quarter 2024 Form 10-Q

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.