AMERICAN INTERNATIONAL GROUP INC

American International Group, Inc. (NYSE: AIG)is a leading global insurance organization. AIG provides insurance solutions that help businesses and individuals in over 200 countries and jurisdictions protect their assets and manage risks through AIG operations, licenses and authorizations as well as network partners.AIG is building on its industry leadership and is positioned to become a top-performing company recognized for the value it provides stakeholders in an environment of profound, complex and dynamic risk. AIG's achievements in 2024 demonstrate continued strength in executing multiple, complex initiatives simultaneously and with quality. With the deconsolidation of Corebridge Financial, Inc. (Corebridge) complete, a strong underwriting portfolio and culture, and excellent financial strength, AIG enters 2025 with strong momentum.

In this Annual Report, unless otherwise mentioned or unless the context indicates otherwise, we use the terms “AIG,” the “Company,” “we,” “us” and “our” to refer to American International Group, Inc., a Delaware corporation, and its consolidated subsidiaries. We use the term “AIG Parent” to refer solely to American International Group, Inc., and not to any of its consolidated subsidiaries.

About AIG

AIG's global team is both results oriented and focused on how we achieve positive outcomes. This balance creates an aligned and inclusive culture that enables further progress. Unifying under our Purpose and Values empowers AIG colleagues to be conduits of positive change – delivering exceptional client service, enhanced shareholder value and a better experience for all stakeholders.

AIG’s five Values guide colleagues' actions:

•Take ownership: we set clear expectations, we are proactive, we are accountable

•Set the standard: we deliver quality—always, we are client-centric, we lead the industry

•Win together: we are stronger together, we are aligned, we are one team

•Be an ally: we strive for inclusion, we listen and learn, we speak with our actions

•Do what’s right: we act with integrity, we lead by example, we lift up our communities

2025 Priorities

Deliver Sustainable Underwriting Results and Profitability Growth -Continue to focus on a culture of underwriting excellence and prudent expense management to support profitable growth.

Unlock the Full Potential of AIG’s Less Complex Operating Structure -Continue to refine our new operating structure to operate efficiently as a lean, agile and high-performing company.

Invest in our Talent for the Future AIG -Foster a performance-driven culture built on quality, excellence and continuous improvement through ongoing education and workplace learning opportunities.

Expand our Data and Digital Strategies -Responsibly scale the use of generative artificial intelligence (AI), focus on continued enhancement of data quality to inform decision making and further strengthen workflow capabilities across the company to accelerate our strategic business objectives.

Preserve and Harness Balance Sheet Strength and Financial Flexibility -Execute on our balanced capital management plan in order to deliver shareholder value and support AIG's strategic flexibility.

2024 Highlights

Delivered Strong Financial Performance Driven by Underwriting Excellence

•Produced strong combined ratio of 91.8 and accident year combined ratio, as adjusted(a) of 88.2.

•Delivered $1.9 billion of underwriting income, which contributed to over $7 billion of cumulative underwriting income 2021-2024.

•Generated net premiums written of $23.9 billion, supported by new business growth, strong retention and rate discipline.

•Achieved 23 percent Net investment income growth year-over-year.

•Expanded capabilities in the non-admitted ultra and high-net-worth market through exclusive wholesale distribution partnership between Private Client Select (PCS) and Ryan Specialty.

Completed Multi-Year Strategies to Direct Focus to AIG’s Core Businesses

•Deconsolidated Corebridge from AIG and reduced AIG’s ownership of Corebridge common stock to 22.7 percent as of December 31, 2024 for aggregate gross proceeds of $6.0 billion through various sale transactions.

•Divested global individual personal travel insurance and assistance business for $600 million plus additional earn-out consideration, further enhancing AIG’s financial flexibility and sculpting our portfolio of businesses.

•Led the launch of Lloyd’s syndicate 2478 through multi-year Blackstone Inc. strategic relationship as part of AIG’s outwards reinsurance program.

Continued Balanced Capital Management Supporting Financial Strength, Growth and Shareholder Return

•Reduced general borrowings by $1.6 billion, which resulted in a debt-to-capital ratio of 17.0 percent.

•Repurchased $6.6 billion of AIG common stock, reducing outstanding shares by 12 percent.

•Paid$1.0 billion in AIG common stock dividends and increased quarterly common stock dividend amount by double digit percentage for the second consecutive year.

•Ended 2024 with parent liquidity of $7.7 billion.

(a)Non-GAAP measure – for reconciliation of non-GAAP to GAAP measure, see Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations (MD&A).