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 $40 million and $142 million for the three and nine months ended September 30, 2026, respectively.

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 $46 million, or 2 percent, primarily due to growth in Retail 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 $739 million, or 11 percent, primarily due to reinsurance program changes and growth in Retail Casualty, Financial Lines and Property. The increase in Net premiums earned is primarily driven by these same factors.

North America Commercial produced underwriting income of $167 million from a combined ratio of 92.9, which was a 10.3 point increase. This was driven by a higher loss ratio (10.2 points) from:

•lower net favorable prior year reserve development (4.5 points), with favorable development across multiple lines;

•higher catastrophe losses (4.0 points); and

•higher accident year loss ratio, as adjusted (1.7 points) primarily due to changes in business mix.

The expense ratio increased by 0.1 points, from a primarily mix-driven increase in the acquisition ratio (0.4 points) partially offset by a lower general operating expense ratio (0.3 points).

North America Commercial produced underwriting income of $866 million from a combined ratio of 87.4, which was unchanged. The loss ratio was lower (0.2 points) from lower catastrophe losses (1.3 points), partially offset by:

•higher accident year loss ratio, as adjusted (0.9 points) primarily due to changes in business mix; and

•lower net favorable prior year reserve development (0.2 points), with favorable development primarily driven by Casualty and Property.

The expense ratio increased by 0.2 points, from a primarily mix-driven increase in the acquisition ratio (0.1 points) and a higher general operating expense ratio (0.1 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 unfavorable impact of foreign exchange ($6 million), increased by $278 million, or 13 percent, primarily due to broad-based geographic growth. The increase in Net premiums earned is primarily driven by these same factors.

Net premiums written, excluding the favorable impact of foreign exchange ($194 million), increased by $764 million, or 12 percent, primarily due to reinsurance program changes and broad-based geographic growth. The increase in Net premiums earned is primarily driven by these same factors.

International Commercial produced underwriting income of $283 million from a combined ratio of 88.3, which was a 3.4 point increase. This was driven by a higher loss ratio (4.4 points) from:

•higher catastrophe losses (2.7 points);

•lower net favorable prior year reserve development (0.9 points), with favorable development driven by Financial Lines; and

•higher accident year loss ratio, as adjusted (0.8 points) primarily due to changes in business mix.

The expense ratio improved by 1.0 points, from a primarily mix-driven decrease in the acquisition ratio (0.1 points) and a lower general operating expense ratio (0.9 points).

International Commercial produced underwriting income of $761 million from a combined ratio of 88.9, which was a 2.6 point increase. This was driven by a higher loss ratio (2.7 points) from:

•higher catastrophe losses (1.3 points);

•higher accident year loss ratio, as adjusted (0.7 points) primarily due to changes in business mix; and

•net adverse prior year reserve development (0.7 points), with unfavorable development driven by prior year premiums.

The expense ratio improved by 0.1 points, as a primarily mix-driven increase in the acquisition ratio (0.4 points) was more than offset by a lower general operating expense ratio (0.5 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 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 ($39 million), increased by $142 million, or 9 percent, primarily due to growth in U.S. high net worth and Accident & Health. The increase in Net premiums earned is primarily driven by these same factors.

Net premiums written, excluding the favorable impact of foreign exchange ($6 million) increased by $427 million, or 9 percent, primarily due to reinsurance program changes and growth in U.S. high net worth and Accident & Health. The increase in Net premiums earned is primarily driven by these same factors.

Global Personal produced underwriting income of $114 million from a combined ratio of 93.2, which was a 2.0 point improvement. This was driven by a lower loss ratio (2.5 points) from:

•lower accident year loss ratio, as adjusted (2.4 points) primarily due to changes in business mix; and

•higher net favorable prior year reserve development (1.3 points), with favorable development driven by U.S. high net worth.

This was partially offset by higher catastrophe losses (1.2 points).

The expense ratio increased by 0.5 points, from a primarily mix-driven increase in the acquisition ratio (0.8 points), partially offset by a lower general operating expense ratio (0.3 points).

Global Personal produced underwriting income of $397 million from a combined ratio of 91.9, which was an 8.5 point improvement. This was driven by a lower loss ratio (6.7 points) from:

•lower catastrophe losses (3.3 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 (1.2 points), with favorable development driven by U.S. high net worth.

The expense ratio improved by 1.8 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 (0.9 points).