AMERICAN INTERNATIONAL GROUP, INC.

General Insurance consists of our three segments and the Net investment income and Amortization of intangible assets including renewal rights related to our insurance operations.

GENERAL INSURANCE

(a)Consistent with our definition of Adjusted pre-tax income (APTI), excludes net loss reserve discount and the portion of favorable or unfavorable prior year reserve development for which we have ceded the risk under retroactive reinsurance agreements and related changes in amortization of the deferred gain.

(b)In the first quarter of 2026, AIG realigned and began reporting Amortization of intangible assets in General Insurance from Other Operations; historical results have been recast to reflect these changes.

The following tables present General Insurance accident year catastrophes(a) by segment:

(a)Natural catastrophe losses are generally weather or seismic events, in each case, having a net impact on AIG in excess of $10 million and man-made catastrophe losses, such as terrorism and civil unrest that exceed the $10 million threshold.

(b)Includes net losses related to the Middle East conflict of $75 million in the three months ended June 30, 2026.

NORTH AMERICA COMMERCIAL

The North America Commercial segment consists of insurance businesses and operations in the United States, Canada and Bermuda. Products include Property, Casualty and Financial Lines with clients ranging from small and medium-sized businesses to multinational companies.

(a)Consistent with our definition of APTI, excludes net loss reserve discount and the portion of favorable or unfavorable prior year reserve development for which we have ceded the risk under retroactive reinsurance agreements and related changes in amortization of the deferred gain.

Net premiums written increased by $262 million, or 9 percent, primarily due to the impact of strategic transactions and organic growth, notably in Casualty and Financial Lines, partially offset by lower production in certain Property lines. The increase in Net premiums earned is primarily driven by these same factors.

Net premiums written increased by $693 million, or 17 percent, primarily due to the impact of strategic transactions, reinsurance program changes and organic growth, notably in Casualty, Property and Financial Lines. The increase in Net premiums earned is primarily driven by these same factors.

North America Commercial produced underwriting income of $372 million from a combined ratio of 84.0, which was a 1.9 point improvement. This was driven by a lower loss ratio (2.1 points) from:

•higher net favorable prior year reserve development (1.8 points), with favorable development driven by Casualty; and

•lower catastrophe losses (0.6 points).

This was partially offset by a higher accident year loss ratio, as adjusted (0.3 points) primarily due to changes in business mix.

The expense ratio increased by 0.2 points, as a primarily mix-driven increase in the acquisition ratio (0.5 points) more than offset a lower general operating expense ratio (0.3 points).

North America Commercial produced underwriting income of $699 million from a combined ratio of 84.8, which was a 5.1 point improvement. This was driven by a lower loss ratio (5.4 points) from:

•lower catastrophe losses (3.9 points); and

•higher net favorable prior year reserve development (2.0 points), with favorable development primarily driven by Casualty and Property.

This was partially offset by a higher accident year loss ratio, as adjusted (0.5 points) primarily due to changes in business mix.

The expense ratio increased by 0.3 points from an increase in the general operating expense ratio (0.3 points).

INTERNATIONAL COMMERCIAL

The International Commercial segment consists of insurance businesses and operations in Europe, Middle East and Africa (EMEA region), the United Kingdom, Japan, Asia Pacific, Latin America and Caribbean, and China. The International Commercial segment also includes the results of Talbot Holdings Ltd. (Talbot) as well as AIG’s Global Specialty business. Products include Property, Casualty and Financial Lines, with clients ranging from small and medium-sized businesses to multinational companies. Global Specialty products include aviation, political risk, trade credit and trade finance.

Net premiums written, excluding the favorable impact of foreign exchange ($38 million), increased by $225 million, or 10 percent, primarily due to the impact of strategic transactions and organic growth, notably in Specialty and Property. The increase in Net premiums earned is primarily driven by these same factors.

Net premiums written, excluding the favorable impact of foreign exchange ($200 million), increased by $486 million, or 11 percent, primarily due to the impact of strategic transactions, reinsurance program changes and organic growth, notably in Property, Casualty and Specialty. The increase in Net premiums earned is primarily driven by these same factors.

International Commercial produced underwriting income of $200 million from a combined ratio of 91.3, which was a 5.4 point increase. This was driven by a higher loss ratio (4.1 points) from:

•higher catastrophe losses (2.5 points);

•higher accident year loss ratio, as adjusted (1.0 points) primarily due to changes in business mix; and

•net adverse prior year reserve development (0.6 points), with unfavorable development driven by prior year premiums.

The expense ratio increased by 1.3 points, from a primarily mix-driven increase in the acquisition ratio (1.3 points).

International Commercial produced underwriting income of $478 million from a combined ratio of 89.2, which was a 2.1 point increase. This was driven by a higher loss ratio (1.9 points) from:

•higher catastrophe losses (0.7 points);

•higher accident year loss ratio, as adjusted (0.6 points) primarily due to changes in business mix; and

•net adverse prior year reserve development (0.6 points), with unfavorable development driven by prior year premiums.

The expense ratio increased by 0.2 points, as a primarily mix-driven increase in the acquisition ratio (0.6 points) was partially offset by a lower general operating expense ratio (0.4 points).

GLOBAL PERSONAL

The Global Personal segment consists primarily of Global Accident & Health and Personal Lines insurance businesses in the United States, Japan, the United Kingdom, EMEA region, Asia Pacific, Latin America and Caribbean, and China. Global Accident & Health products include group personal accident and business travel products for employees, associations and other organizations, and voluntary and sponsor-paid personal accident and supplemental health products for individuals. Personal Lines products include personal auto and homeowners in selected markets, comprehensive extended warranty, device protection insurance, home warranty and related services, and insurance for high net-worth individuals offered through Private Client Select (PCS) in the U.S. that covers auto, homeowners, umbrella, yacht, fine art and collections.

Net premiums written, excluding the unfavorable impact of foreign exchange ($15 million), increased by $126 million, or 8 percent, primarily driven by reinsurance program changes and organic growth in U.S. high net worth and Accident & Health. The decrease in Net premiums earned was primarily driven by Warranty.

Net premiums written, excluding the favorable impact of foreign exchange ($45 million) increased by $285 million, or 9 percent, primarily driven by reinsurance program changes and organic growth in U.S. high net worth and Accident & Health. The decrease in Net premiums earned was primarily driven by Warranty.

Global Personal produced underwriting income of $114 million from a combined ratio of 92.9, which was a 5.6 point improvement. This was driven by a lower loss ratio (3.4 points) from:

•lower accident year loss ratio, as adjusted (2.7 points) primarily due to changes in business mix; and

•lower catastrophe losses (0.7 points).

The expense ratio improved by 2.2 points, reflecting a lower acquisition ratio (0.9 points) primarily driven by changes in business mix and improved commission terms and a lower general operating expense ratio (1.3 points).

Global Personal produced underwriting income of $283 million from a combined ratio of 91.2, which was an 12.0 point improvement. This was driven by a lower loss ratio (8.9 points) from:

•lower catastrophe losses (5.7 points);

•lower accident year loss ratio, as adjusted (2.2 points) primarily due to changes in business mix; and

•higher net favorable prior year reserve development (1.0 points), with favorable development driven by prior year premiums.

The expense ratio improved by 3.1 points, reflecting a lower acquisition ratio (1.8 points), primarily driven by changes in business mix and improved commission terms, and a lower general operating expense ratio (1.3 points).