AMERICAN INTERNATIONAL GROUP INC
For the period ended May 14, 2025. Filed Apr 2, 2025.
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May 14, 2025 · Filed Apr 2, 2025
Contents
Performance and Pay Alignment Highlights
2024 Performance and Pay Alignment Highlights
We continued to deliver strong profitability and growth across our businesses in 2024 while strengthening our capital structure and improving our financial performance.
| Successful Completion of Multi-Year Strategic Initiatives with the Deconsolidation of Corebridge and Divestitures of Non-Core BusinessesIn June 2024, the four-year journey to separate our Life & Retirement business was successfully completed with the full deconsolidation of Corebridge. In December 2024, we completed the sale of the Personal Travel Business.These dispositions further enhance our financial flexibility and position our core portfolio with businesses for sustainable, profitable growth with a leaner, more agile operating model. | Strong Performance in General Insurance Our multi-year focus on and commitment to underwriting excellence yielded strong and stable results for 2024. We delivered $1.9 billion of underwriting income, which contributed to over $7 billion of cumulative underwriting income since 2021.Generated net premiums written of $23.9 billion, supported by new business growth, strong retention and rate discipline.Delivered combined ratio below 92% and accident year combined ratio, as adjusted* below 89% for a third consecutive year. | Outstanding Balanced Capital Management Strategy Supporting Financial Strength, Growth and Shareholder ReturnIn 2024, we repurchased $6.6 billion of our common stock and paid $1.0 billion in common stock dividends. We also increased our quarterly cash dividend by 11 percent to $0.40 per share in the second quarter. This marked the second consecutive year of double-digit percentage dividend increases.We reduced general borrowings by $1.6 billion and ended the year with AIG Parent liquidity sources of $10.7 billion. |
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Our incentive plans reflect measures of success directly aligned to our strategic priorities. These achievements, combined with individual performance, contributed to short-term incentives being earned at an average of 180 percent of target for our current named executives and 2022 PSUs being earned at 178 percent of target.
44 AIG 2025 PROXY STATEMENT
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