AMERICAN INTERNATIONAL GROUP INC
For the period ended Mar 31, 2025. Filed May 2, 2025.
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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.
Mar 31, 2025 · Filed May 2, 2025
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Other Operations
Other Operations predominantly consists of Net Investment Income from our AIG Parent liquidity portfolio, Corebridge dividend income, corporate General operating expenses, and Interest expense.
OTHER OPERATIONS RESULTS
| Three Months Ended March 31, | ||||
|---|---|---|---|---|
| (in millions) · 2025 · 2024 · Change | ||||
| Net investment income and other | $110 | $73 | 51 | % |
| Benefits, losses and expenses: | ||||
| Corporate and other general operating expenses | 85 | 158 | (46) | |
| Amortization of intangible assets | 4 | 4 | — | |
| Interest expense | 91 | 115 | (21) | |
| Total benefits, losses and expenses | 180 | 277 | (35) | |
| Adjusted pre-tax loss before consolidation and eliminations | (70) | (204) | 66 | |
| Consolidation and eliminations | — | (1) | NM | |
| Adjusted pre-tax loss* | $(70) | $(205) | 66 | % |
*In the fourth quarter of 2024, AIG realigned and began excluding the net results of run-off businesses previously reported in Other Operations from Adjusted pre-tax income. Historical results have been recast to reflect these changes.
THREE MONTHS ENDED MARCH 31, 2025 AND 2024 COMPARISON
Adjusted pre-tax loss before consolidation and eliminations was $70 million in 2025 compared to $204 million in 2024, a decrease of $134 million, primarily due to:
higher net investment income and other of $37 million due to dividend income from Corebridge in 2025 of $31 million partially offset by lower income on AIG Parent portfolio due to lower yields;
lower corporate and other general operating expenses of $73 million primarily driven by employee-related costs and other operating expenses; and
lower interest expense of $24 million primarily driven by interest savings from $2.0 billion debt repurchases, through cash tender offers and debt redemption and maturities in 2024.
| AIG | First Quarter 2025 Form 10-Q | 61 |
|---|
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