AMERICAN INTERNATIONAL GROUP, INC.
For the period ended Dec 31, 2025. Filed Feb 12, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 12, 2026
Contents
Debt
We expect to service and repay general borrowings through maturing investments and dispositions of invested assets, future cash flows from operations, cash flows generated from invested assets, future debt or preferred stock issuances and other financing arrangements.
The following table provides the rollforward of our total debt outstanding:
| Year Ended December 31, 2025 | Balance,Beginningof Year | Issuances | MaturitiesandRepayments | Effect ofForeignExchange | OtherChanges | Balance,End ofYear |
|---|---|---|---|---|---|---|
| (in millions) | ||||||
| General borrowings: | ||||||
| Notes and bonds payable | $7,885 | $1,241 | $(718) | $116 | $5 | $8,529 |
| Junior subordinated debt | 602 | — | (122) | — | 1 | 481 |
| AIG Japan Holdings Kabushiki Kaisha | 239 | — | (247) | 8 | — | — |
| Total general borrowings | 8,726 | 1,241 | (1,087) | 124 | 6 | 9,010 |
| Borrowings supported by assets | 37 | — | (12) | — | — | 25 |
| Other subsidiaries' notes, bonds, loans and mortgages payable - not guaranteed by AIG | 1 | — | — | — | (1) | — |
| Total long-term debt | $8,764 | $1,241 | $(1,099) | $124 | $5 | $9,035 |
| Debt of consolidated investment entities - not guaranteed by AIG(a) | $158 | $— | $(2) | $— | $— | $156 |
(a)Includes debt of consolidated investment entities related to real estate investments of $156 million at December 31, 2025 and $158 million at December 31, 2024.
Debt Maturities
The following table summarizes maturing long-term debt at December 31, 2025 of AIG for the next four quarters:
| FirstQuarter · SecondQuarter · ThirdQuarter · FourthQuarter | |||||
|---|---|---|---|---|---|
| (in millions) | 2026 | 2026 | 2026 | 2026 | Total |
| General borrowings | $— | $— | $— | $29 | $29 |
| Borrowings supported by assets | 7 | — | — | — | 7 |
| Total | $7 | $— | $— | $29 | $36 |
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