AMERICAN INTERNATIONAL GROUP, INC.
For the period ended Dec 31, 2025. Filed Feb 12, 2026.
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FY2025 · Filed Feb 12, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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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
| Years Ended December 31, | Change | ||||||
|---|---|---|---|---|---|---|---|
| (in millions) · 2025 · 2024 · 2023 · 2025 vs 2024 · 2024 vs 2023 | |||||||
| Net investment income and other | $349 | $434 | $190 | (20) | % | 128 | % |
| Benefits, losses and expenses: | |||||||
| Corporate and other general operating expenses | 360 | 623 | 698 | (42) | (11) | ||
| Amortization of intangible assets | 18 | 18 | 27 | — | (33) | ||
| Interest expense | 392 | 445 | 498 | (12) | (11) | ||
| Total benefits, losses and expenses | 770 | 1,086 | 1,223 | (29) | (11) | ||
| Adjusted pre-tax loss before consolidation and eliminations | (421) | (652) | (1,033) | 35 | 37 | ||
| Consolidation and eliminations | — | (1) | (17) | NM | 94 | ||
| Adjusted pre-tax loss* | $(421) | $(653) | $(1,050) | 36 | % | 38 | % |
*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.
ADJUSTED PRE-TAX LOSS BEFORE CONSOLIDATION AND ELIMINATIONS
Years Ended December 31, 2025 and 2024 Comparison
Adjusted pre-tax loss before consolidation and eliminations decreased $231 million primarily due to the following:
lower net investment income and other of $85 million due to lower dividend income from Corebridge of $72 million and lower interest on AIG Parent portfolio as a result of lower yields;
lower corporate and other general operating expenses of $263 million primarily driven by reapportionment of corporate expenses from lean parent implementation to the business; and
lower interest expense of $53 million primarily driven by interest savings from $2.4 billion debt repurchases, through cash tender offers, debt redemption and maturities in 2025 and 2024 partially offset by new debt issuance of $1.25 billion in 2025 and ¥100 billion debt, equivalent to approximately $660 million in 2024.
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