Fourth Quarter 2024:
General Insurance net premiums written (NPW) of$6.1 billion , an increase of 6% year-over-year on a reported basis, or 7% on a comparable basis*†- Combined ratio was 92.5%; Accident year combined ratio, as adjusted* (AYCR) was 88.6%
- Net income per diluted share was
$1.43 , compared to$0.12 in the prior year quarter, which included Corebridge Financial, Inc.’s (Corebridge) consolidated results - Adjusted after-tax income* (AATI) per diluted share was
$1.30 , an increase of 2% year-over-year, or 5% on a comparable basis† - Returned approximately
$2.1 billion of capital to shareholders in the fourth quarter through$1.8 billion of share repurchases and$244 million of dividends
Full Year 2024:
- Strong General Insurance NPW of
$23.9 billion , a decrease of 11% year-over-year on a reported basis as a result of divestitures, or an increase of 6% on a comparable basis† - Global Commercial NPW of
$16.8 billion , a decrease of 14% year-over-year, or an increase of 7% on a comparable basis†, led by excellent growth in North America Commercial of 9%† - Exceptional new business written in Global Commercial of
$4.5 billion , growing 9% year-over-year - Combined ratio was 91.8%; AYCR was 88.2%
- Net loss per diluted share was
$2.17 , compared to net income of$4.98 in the prior year, with the loss reflecting the accounting impact of the Corebridge deconsolidation - AATI per diluted share was
$4.95 , an increase of 12% year-over-year, or 28% on a comparable basis† - Executed
$9.7 billion of capital management actions, including$6.6 billion of share repurchases,$1.0 billion of dividends,$1.6 billion of net debt reduction and$500 million of preferred stock redemption
“2024 was an outstanding year of accomplishments for AIG in which we successfully executed multiple complex strategic and operational priorities, delivered outstanding financial results and created exceptional value for our clients and stakeholders. We strengthened the company’s capital structure, improved our financial performance, and achieved a historic milestone with the deconsolidation of Corebridge Financial, which enabled us to organize our business into three distinct operating segments,” said
“Against the backdrop of an extremely challenging natural catastrophe environment, I want to acknowledge the devastating impact of the recent wildfires in
“As a result of our steadfast commitment to prudently managing risk and volatility, we ended 2024 with excellent fourth quarter results, generating strong growth across our businesses with outstanding underwriting profitability.
“For the full year, adjusted after-tax income per diluted share was
“We made significant progress on our capital management strategy in 2024, reducing our debt by
“We successfully launched our reinsurance Syndicate 2478 at Lloyd's through a multi-year strategic relationship with
“While the early days of 2025 reflect increased global volatility and complexity, AIG has entered a new era, and we are moving forward with strong momentum on behalf of our colleagues, customers, partners and stakeholders. With our focus on disciplined capital management, sustained underwriting excellence and expense management, we are well on track to deliver 10% plus core operating return on equity for full year 2025.”
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* Refers to financial measure not calculated in accordance with generally accepted accounting principles (non-GAAP); definitions of non-GAAP measures and reconciliations to their closest GAAP measures can be found in this news release under the heading Comment on Regulation G and Non-GAAP Financial Measures. |
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† NPW on a comparable basis reflects year-over-year comparison on a constant dollar basis adjusted for the sale of |
